Dangote Petroleum Refinery has further reduced the gantry price of Premium Motor Spirit (PMS), popularly known as petrol, to ₦825 per litre — down from the previously announced ₦835.
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This marks the third downward price adjustment in just over a month, following back-to-back reductions in April that saw the refinery slash its ex-depot price by ₦45 from ₦880 to ₦835 per litre within a single week.
Sources within the petroleum supply chain confirmed on Monday that the latest reduction, although not officially announced, is being effected through a ₦10 rebate mechanism. Marketers reportedly still pay ₦835 per litre at the point of purchase but receive a ₦10 refund after successful loading and evacuation of the product from the refinery.
“The Dangote refinery has started giving a rebate on its products. It’s not an official reduction yet, but it’s paid back after marketers buy products from them,” one of the sources familiar with the development revealed.
The price cut comes on the heels of the resumed implementation of the Naira-for-Crude oil swap agreement with domestic refiners, which had previously been suspended under the leadership of former NNPC Limited Group Chief Executive Officer, Mele Kyari.
With this latest adjustment, Dangote Refinery has managed to undercut private depot owners and marketers dependent on imported fuel, allowing its customers to retail petrol at a more competitive band of ₦830–₦835 per litre.
Industry analysts believe the rebate strategy is part of a broader effort by the refinery to boost sales volume and attract loyal bulk buyers in an increasingly competitive market landscape.
Efforts to obtain official comments from Dangote Group spokesperson, Mr. Anthony Chiejina, on the development were unsuccessful as of press time.
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