The Dangote Petroleum Refinery has reduced its ex-gantry petrol price to N828 per litre, marking a N49 decrease from the previous N877 per litre, according to sources within the refinery.
“The refinery reduced its petrol price to N828 per litre,” a source confirmed.
This adjustment comes as the refinery prepares to increase its output capacity to 1.4 million barrels per day (bpd), surpassing India’s Jamnagar refinery, which currently holds the world’s largest capacity at 1.36 million bpd.
Earlier, on November 1, the refinery announced that its petroleum product supply had already exceeded Nigeria’s daily demand.
“Our refinery is currently loading over 45 million litres of PMS and 25 million litres of diesel daily which exceeds Nigeria’s demand,” the statement read.
The company also stated that it is working closely with regulatory agencies and distribution partners to ensure efficient nationwide delivery.
Meanwhile, on November 6, Oando Plc revealed it had implemented a “strategic pause” on petrol imports due to increasing local output from Dangote Refinery.
Wale Tinubu, Group Chief Executive of Oando Plc, explained that the company’s trading segment had come under strain as a result of “declining PMS imports into the country due to rising local refining capacity from the Dangote Refinery, a positive development that enhances Nigeria’s energy security and self-sufficiency.”