The Dangote Petroleum Refinery has reduced its petrol gantry price from N828 to N699 per litre, marking a drop of N129 or 15.58 percent. Senior officials said the price cut was introduced to ease transportation costs ahead of the Christmas season, when millions of Nigerians travel across the country to join their families.
According to the company, the adjustment reflects its commitment to reducing cost pressures on transport operators and improving affordability during the festive period. Industry insiders say the refinery’s recent pricing movements—culminating in Thursday’s significant reduction—signal the collapse of the old marketers’ consortium model, as individual marketers now engage the refinery directly for quicker pricing decisions and wider distribution.
The refinery has positioned the price review as both an economic and social intervention, with expectations that retail prices will drop particularly in the North and South-East, where transport costs typically spike during the holidays. Officials added that further reviews may occur as the refinery ramps up output ahead of its next expansion phase.