The Dangote Petrochemicals Refinery has quietly implemented another reduction in the ex-gantry price of Premium Motor Spirit (PMS), commonly known as petrol bringing it below the publicly announced rate of ₦835 per litre.
Reliable industry sources confirmed on Monday that the refinery has introduced a N10 per litre rebate for marketers after the successful loading and evacuation of the product from its facility. While the official ex-depot price remains at ₦835, customers effectively pay ₦825 due to this post-purchase refund.
“The Dangote refinery has started giving a rebate on its products. It’s not an official reduction yet, but paid back after marketers buy products from them,” one source disclosed.
This subtle pricing strategy allows Dangote’s customers and fuel marketers to retail petrol at slightly lower rates typically between ₦830 and ₦835 per litre. This move is already putting pressure on importing marketers and private depot operators who struggle to match Dangote’s increasingly competitive pricing.
The latest adjustment follows closely on the heels of a significant drop in April, when Dangote reduced its ex-gantry price by ₦45 per litre from ₦880 to ₦835 within the span of a week. That reduction coincided with the resumption of the naira-for-crude supply agreement with local refiners, which had previously been on hold.
Industry observers say this pricing strategy could mark a turning point in Nigeria’s downstream sector by stabilising fuel prices and reducing the country’s dependency on imports.
Efforts to reach Dangote Group’s spokesperson, Anthony Chiejina, for an official comment on the development were unsuccessful as of press time.
