LAGOS-Dangote Petroleum Refinery has announced a significant reduction in the prices of Premium Motor Spirit (PMS), commonly known as petrol, and Automotive Gas Oil (diesel), with immediate effect from March 10, 2026.
According to the company, the gantry price of PMS has been reduced from ₦1,175 to ₦1,075 per litre, representing a decrease of ₦100 per litre.
The coastal price has also been lowered from ₦1,150 to ₦1,028 per litre, reflecting a reduction of ₦122 per litre. In addition, the price of diesel has been cut from ₦1,620 to ₦1,430 per litre, marking a decrease of ₦190 per litre.
The refinery explained that the decision was taken to ensure that its pricing system remains responsive to global market dynamics and reflects fair pricing for Nigerians.
Dangote Refinery stated that as a responsible corporate organization operating under strong governance and ethical standards, it is necessary to adjust product prices in response to the recent decline in global crude oil prices.
The company further explained that its crude oil pricing is based on the global benchmark price with an additional premium ranging from three to six dollars, while foreign exchange payments are made at the prevailing market rate without subsidy.
Management of the refinery also noted that in 2025 alone, the gantry price was reduced at least eight times while it was increased only twice, demonstrating the company’s commitment to economic development and support for Nigerians.
Dangote Refinery reaffirmed its commitment to strengthening Nigeria’s national energy security while remaining mindful of the economic challenges faced by citizens.
The statement was signed by the Management of Dangote Petroleum Refinery on March 10, 2026.
