Africa’s largest petroleum refinery, Dangote Refinery, in the Federal Republic of Nigeria, has slashed the gantry price of Premium Motor Spirit (PMS), popularly known as petrol, to ₦828 ($0.5492) per litre from ₦877 ($0.5986) per litre — representing a 5.6 percent decrease, according to Vanguard, which cited credible sources.
This reduction is certainly good news for petroleum consumers.
According to Vanguard, the drop in prices is attributed to a newly strengthened crude supply arrangement between Dangote Refinery and NNPC Limited under the naira-for-crude framework.
NNPC Ltd is expected to supply the 650,000-barrel-per-day refinery with five December-loading crude shipments, including Amenam, Bonny Light, Forcados, and Qua Iboe.
In addition, Petroleumprice.ng reported: “The price adjustment is expected to bring some relief to fuel marketers and consumers nationwide, following weeks of elevated pump prices. Depot operators in Lagos confirmed that loading at the new price commenced early Friday, with expectations of a corresponding drop at retail outlets in the coming days.”
Dangote’s gantry price stood at ₦877 per litre as of October 17, 2025, placing it below the average “into-tank” cost of imported fuel in Lagos and the ship-to-ship (STS) value at Lome, Togo.
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