In a move expected to ease pressure on fuel marketers and consumers nationwide, the Dangote Refinery has announced a reduction in the ex-depot price of petrol from ₦877 to ₦828 per litre—a 5.6% decrease. The adjustment, effective Friday, follows weeks of soaring pump prices across Nigeria and signals renewed momentum in efforts to stabilize the downstream petroleum market. Depot operators in Lagos confirmed that loading has commenced at the revised rate, with retail price adjustments anticipated in the coming days.
Jocomms Correspondent reports that industry sources have revealed that the Nigerian National Petroleum Company Limited (NNPC Ltd) is preparing to supply the 650,000 barrels-per-day Dangote Refinery with five shipments of crude oil in December. The shipments, comprising Amenam, Bonny Light, CJ Blend, Forcados, and Qua Iboe grades, are expected to sustain refinery operations through the festive period. The collaboration marks another step in strengthening the synergy between the national oil company and Africa’s largest refinery.
Analysts say the price reduction could bring short-term relief to consumers while encouraging competitive pricing in the domestic fuel market. However, they caution that sustained stability will depend on consistent crude supply and foreign exchange management. As Nigerians look forward to a possible drop in pump prices, the key question remains—will this adjustment mark the beginning of long-term price relief for the nation’s motorists? Visit www.jocomms.com for more news.
