In a major development for Nigeria’s downstream sector, the Dangote Petroleum Refinery has officially slashed the ex-gantry price of Premium Motor Spirit (PMS) from N828 to N699 per litre, marking a significant N129 price reduction.

Industry insiders confirmed the update, noting that the move is expected to ease fuel costs and support increased demand as the festive season approaches.

Abubakar Garima, National President of the Independent Petroleum Marketers Association of Nigeria (IPMAN), also verified the new pricing, saying:

“The refinery reduced the price to N699 per litre and told marketers that we can start buying the product for the festive season.”

This price drop is projected to influence pump prices nationwide as marketers begin lifting products at the new rate, potentially offering relief to consumers facing high transportation costs.

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