Dangote Refinery has reduced the ex-depot price of Premium Motor Spirit (PMS) also known as petrol to ₦1,075 per litre from ₦1,125 per litre.
This development is expected to trigger another round of price reductions across Nigeria’s downstream petroleum market.
The refinery also aligned its coastal loading price at ₦1,075 per litre and suspended its consortium marketing arrangement, effectively opening petrol loading at its gantry to all qualified marketers.
The suspended consortium comprised NIPCO Plc/11 Plc, MRS, TotalEnergies, Conoil, AA Rano, AYM Shafa, Rainoil/Eterna, Ardova Plc, NNPC Retail and other participating marketers.
Industry sources said the latest decision is aimed at making locally refined petrol more competitive than imported products, while broadening access to supplies for marketers nationwide.
According to the sources, opening product loading to all qualified marketers is expected to deepen competition in the downstream sector, improve product availability and enhance distribution across the country.
