- Dangote Refinery has reduced its petrol gantry price to N1,200 per litre and coastal price to N1,153
- The adjustment is linked to global oil market uncertainty driven by geopolitical tensions in the Middle East
- It is projected that limited crude deliveries may affect the refinery’s ability to operate at full capacity
Oluwatobi Odeyinka is a business editor at Legit.ng, covering energy, the money market, technology and macroeconomic trends in Nigeria.
The Dangote Petroleum Refinery & Petrochemicals has reduced its gantry price for Premium Motor Spirit (petrol) to N1,200 per litre, with a coastal price set at N1,153 per litre, in a move expected to influence fuel costs across Nigeria’s downstream sector.
The adjustment was confirmed in a statement by the Dangote Group spokesperson, Anthony Chiejina, who said the price review reflects changes in the refinery’s pricing structure.
Source: Getty Images
According to the company, the reduction comes amid ongoing geopolitical tensions in the Middle East, which continue to affect global oil prices.
Chiejina noted that the revised pricing template is expected to impact supply costs across the distribution chain, including depots and retail outlets.
Marketers expected to adjust pricing
Industry players are likely to recalibrate their landing costs following the new gantry price, particularly those sourcing fuel locally rather than relying on imports.
The coastal price of N1,153 per litre is also expected to affect marine deliveries to depots in southern Nigeria, offering distributors an alternative supply route.
The latest adjustment follows previous price increases triggered by global tensions, which pushed petrol prices from about N840 per litre before late February to around N1,300 per litre in recent weeks.
The new reduction from about N1,275 to N1,200 per litre could lead to a slight drop in pump prices, potentially bringing them below the N1,300 mark.
Crude supply challenges persist
Despite the price adjustment, the refinery continues to face crude oil supply constraints.
Findings indicate that the facility experienced a shortfall of about 79.53 million barrels of crude between October 2025 and mid-March 2026.
The refinery, which requires about 19.77 million barrels of crude monthly to operate at full capacity, received significantly lower volumes during the period.
Breakdown of supply figures shows:
- October: 4.55 million barrels
- November: 6.45 million barrels
- December: 4.30 million barrels
- January: 5.65 million barrels
- February: 4.66 million barrels
- March (1–15): 3.6 million barrels
Source: Getty Images
Concerns over crude allocation
A senior official at the refinery said the shortfall raises concerns about compliance with the Petroleum Industry Act, which prioritises meeting local crude demand before exports.
The source noted that the $20 billion Lekki-based refinery has struggled to secure sufficient crude supply, even as Nigeria continues to export oil through the Nigerian National Petroleum Company (NNPC) Limited.
The Managing Director of the refinery, David Bird, recently disclosed that the facility receives only about five cargoes of crude instead of the 13 cargoes agreed under the naira-for-crude arrangement.
The development has raised concerns about the refinery’s ability to operate at optimal capacity and to sustain domestic supply.
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Again, Dangote refinery increases cooking gas price, marketers to release new rates per KG
Petrol marketers urge FG to introduce relief measures
Legit.ng earlier reported that petrol marketers have asked the federal government to introduce temporary measures to ease rising petrol prices.
The Petroleum Products Retail Outlets Owners Association of Nigeria (PETROAN) said higher fuel costs are increasing transport fares and the cost of goods. The group also called for food subsidies and the adoption of alternative energy sources like CNG.
The association acknowledged that global crude oil price fluctuations and market realities influence domestic fuel pricing. However, it stressed the need for immediate measures to ease the burden on citizens.
Source: Legit.ng
