Dangote Petroleum Refinery has announced a major reduction in the prices of refined products of PMS-petrol, automotive gas oil (diesel) with immediate effect, 10th March, 2026.
Under the revised pricing structure, the gantry price of PMS has been reduced from N1,175 to N1,075 (A100) per litre, while the coastal price has been lowered from N1,150 to N1,028 (A122) per litre.
The price of diesel has also been reduced fronm At1,620 to N1,430 (N190) per litre.
This decision is intended to assure Nigerians that the pricing mechanism remains responsive to global market dynamics and indicative of our fair pricing system.
As responsible corporate citizens operating in a high-governance code and ethical environment, we believe it is imperative to reduce the price of our products as a reflection of the decline in
global crude oil prices.
All our crudes are priced on global benchmark price plus $3 to $6 additional premium. Our forex is paid at prevailing market rate of the day with no subsidy in both crude and forex.
For the avoidance of doubt, the crude supplied under the Naira-for-Crude
arrangement is priced according to the global benchmark price plus a premium which is then converted to naira using the prevailing market exchange rate.
In 2025, we reduced our gantry price not less than eight times, while increasing it
only twice. This is borne out of a sense of economic patriotism and a duty to the people of Nigeria.
We affirm our commitment to set prices of refined products by passing on the benefits to all Nigerians across the 36 states of the Federation and the
Federal Capital Territory.
Dangote refinery is fully committed to strengthening national energy security while remaining mindful of the economic realities faced by Nigerians.
Signed
Management
10th March, 2026
