On Wednesday, Dangote Refinery announced a reduction in the ex-depot price of Premium Motor Spirit to N835 per litre, down from N865.
The $20 billion refinery communicated this change to its customers in a notice issued on Wednesday morning, reflecting a decrease of N30 in the price of Dangote petrol.
Just six days prior, the refinery had lowered its ex-depot petrol price to N865 per litre.
With this latest price cut, partner stations, including MRS filling stations, are expected to adjust their retail prices from N940 per litre to a new, lower rate in the coming days.
This development coincides with reports from the Nigerian Port Authority and the Major Energies Marketers Association of Nigeria, indicating that marketers received regulatory approval to import 117,000 metric tonnes—equivalent to 156.897 million litres—of petrol within an eight-day period from April 8 to April 16, 2025.
The Independent Petroleum Marketers Association previously stated that the anticipated renewal of the naira-for-crude agreement between the Nigerian government, Dangote Refinery, and other refiners is unlikely to significantly lower the price of Premium Motor Spirit. This is due to the prevailing dynamics of supply and demand, as well as the depreciation of the foreign exchange rate.
