Bukola Afeni
Dangote Petroleum Refinery has announced a reduction in the prices of petrol and diesel, with the new rates taking effect from March 10, 2026.
Under the revised pricing structure, the gantry price of Premium Motor Spirit (PMS), commonly known as petrol, has been reduced from ₦1,175 to ₦1,075 per litre, while the coastal price has dropped from ₦1,150 to ₦1,028 per litre. The price of Automotive Gas Oil (diesel) has also been cut from ₦1,620 to ₦1,430 per litre.
The refinery said the adjustment reflects changes in global crude oil prices and its pricing framework.
“This decision is intended to assure Nigerians that the pricing mechanism remains responsive to global market dynamics and indicative of our fair pricing system,” the company said in a statement issued on March 10.
According to the refinery, crude oil supplied to the facility is priced based on global benchmark rates with an additional premium of between $3 and $6 per barrel, while foreign exchange payments are made at the prevailing market rate without subsidies.
It also clarified that crude supplied under the naira-for-crude arrangement is still priced using global benchmark rates plus a premium before being converted to naira at the prevailing exchange rate.
The company noted that it has adjusted its petrol prices several times over the past year. “In 2025, we reduced our gantry price not less than eight times, while increasing it only twice,” the statement said, describing the moves as part of its commitment to reflect market realities.
Dangote Group said the refinery remains committed to strengthening Nigeria’s energy security while taking into account the economic challenges faced by Nigerians across the 36 states and the Federal Capital Territory.
