This comes at a time when airline operators have raised concerns over the high cost of the product and its impact on the aviation industry.
Browsing: Dangote Refinery
This position, supported by stakeholders, was articulated at the 2026 Bullion Lecture by the Centre for Financial Journalism.
In a significant expansion of its international footprint, the Dangote Refinery also exported gasoline to East Africa for the first time.
A source at the company confirmed this in a statement made available to The Eagle Online on Wednesday.
The development came as a reversal of its earlier increase amid a sharp drop in global crude oil prices triggered by geopolitical developments.
It is designed to consolidate existing debt, optimise the refinery’s capital structure, and align its financing with current operational realities.
The move aimed at boosting domestic fuel production.
The reaction was contained in a statement issued to the media on Thursday following reports of a potential IPO by the company.
The cut in price by the privately-owned refinery comes despite rising crude oil prices driven by ongoing tensions in the Middle East.
While concerns remain about rising pump prices, a growing number of commentators acknowledge the stabilizing role of local refining in cushioning the country from deeper supply shocks.
Bird disclosed this during an interview on ARISE News on Wednesday, noting that the refinery is designed to handle 13 to 15 cargoes monthly to meet Nigeria’s domestic fuel requirements.
This is significantly below the global average of $1.32 (N1,787.08) per litre, based on an exchange rate of N1,353.85 to the dollar.
According to the refinery’s latest pricing template released on Tuesday, the reduction represents a N100 drop from the previous rate of N1,175 per litre.
A senior official at the refinery confirmed this on Monday, noting that the adjustment followed recent volatility in global crude oil prices
President of Dangote Group, Aliko Dangote, disclosed the development in Lagos, confirming that a structured offtake agreement has been concluded with selected marketers to ensure nationwide distribution and eliminate supply instability.
This marks what the company described as a historic milestone and making it the first refinery globally to achieve full nameplate capacity in a single train of that scale.
Both units are now running at optimal performance, strengthening the steady‑state operations of Africa’s largest oil refining facility.
The refinery communicated the price adjustment to marketers on Tuesday, confirming the new rate takes immediate effect.
As a state of the art, large scale merchant refinery, DPRP refines crude oil and processes intermediate feedstocks into premium petroleum products and petrochemicals that meet the highest international standards.
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