In an update published by Vanguard, the Dangote Petroleum Refinery has announced a significant reduction in the gantry price of Premium Motor Spirit (PMS) to N1,200 per litre. This move is expected to provide much-needed relief to the Nigerian downstream sector, which has been grappling with high logistics costs and fluctuating prices.
The management of the 650,000 barrels-per-day facility stated that the price cut is a result of improved operational efficiencies and a commitment to making fuel more affordable for domestic consumers. Industry experts believe this pricing strategy will force other importers and marketers to adjust their rates, potentially stabilizing the retail market across the country.
Daily Post confirmed the price drop, noting “Dangote Refinery reduces petrol price to boost local supply,” while Channels TV reported that “marketers are already adjusting their procurement plans to leverage the lower gantry rates.”
Echotitbits take: This is the “Dangote Effect” in full swing. By undercutting the market, the refinery is positioning itself as the primary price setter for the region, which could finally break the cycle of fuel scarcity and subsidy debates.
Source: The Cable – https://www.thecable.ng/dangote-refinery-reduces-ex-gantry-petrol-price-by-n75-to-n1200-per-litre/ , March 27, 2026
Photo credit: The Cable
