Good News for Nigerians as Dangote Refinery Reduces Petrol Price

The Dangote Refinery has reduced the ex-depot price of petrol by ₦50 per litre, bringing it down from ₦1,175 to ₦1,125 per litre.

The company on Thursday said the adjustment followed a drop in global energy costs, linked to easing tensions in the Middle East, which has affected crude oil and refined product prices in the international market.

According to a notice sent to customers, the gantry loading price was also reviewed downward from ₦1,175 per litre to ₦1,125 per litre.

In addition, the coastal supply price dropped from ₦1,495,215 per metric ton to ₦1,428,165 per metric ton.

The reduction comes after the company refuted claims that its petroleum products are exported to Lomé, Togo, and subsequently re-imported into Nigeria.

It described the claims as unsubstantiated and commercially illogical.

The refinery said it was compelled to respond to what it described as an “ill-motivated web of falsehoods” despite its longstanding policy of not engaging with baseless allegations.

“As a matter of policy, we do not respond to baseless and unsubstantiated claims, given our current determination and focus in ensuring energy security in Nigeria and Africa as a whole. However, we have decided to clear the air on these ill motivated web of falsehoods for posterity,” the company said.