Dangote Petroleum Refinery has announced a fresh reduction in the prices of Premium Motor Spirit (PMS) and Automotive Gas Oil (AGO), popularly known as diesel, in a move expected to provide some relief to consumers and businesses amid ongoing pressure on energy costs.

The refinery said the new pricing structure, which takes effect from Thursday, August 6, 2026, reduces the ex-depot price of petrol to ₦1,165 per litre from ₦1,215 per litre, representing a ₦50 reduction.

Similarly, the ex-depot price of diesel has been reduced from ₦1,650 per litre to ₦1,570 per litre, translating to a decrease of ₦80 per litre.

According to the company, the adjustment reflects its continued efforts to improve access to affordable petroleum products while supporting economic activities across Nigeria.

The latest reduction comes as businesses and households continue to face elevated energy costs, with fuel prices remaining a major factor influencing transportation expenses, production costs and the overall cost of goods and services.

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Dangote Petroleum Refinery said it remains focused on using operational efficiencies and increased refining capacity to deliver value to consumers while ensuring a stable supply of refined petroleum products to the Nigerian market.

The refinery’s intervention in the domestic fuel market has become increasingly significant as Nigeria works to reduce its dependence on imported petroleum products and strengthen local refining capacity.

As Africa’s largest refinery, the facility has the capacity to process 650,000 barrels of crude oil per day and has been positioned as a key part of the country’s strategy to achieve energy security, conserve foreign exchange and create a more reliable supply chain for petroleum products.

Beyond improving fuel availability, increased domestic refining is expected to support industries that depend heavily on diesel for power generation and transportation, particularly manufacturers, logistics operators and small businesses.

The company noted that it remains committed to passing on the benefits of improved operational performance to consumers whenever market conditions allow, while contributing to the growth and stability of Nigeria’s energy sector.

The latest price reduction marks another step in Dangote Refinery’s efforts to reshape Nigeria’s petroleum market by increasing local production and providing an alternative source of refined products for businesses and households.

Meiza Nigeria