Dangote Shakes Fuel Market, Slashes Petrol Price to ₦774

By Afolabi Nelson

Dangote Petroleum Refinery has reduced its gantry price of petrol (PMS) by ₦25 per litre, bringing the ex-depot price down from ₦799 to ₦774 per litre.

The new price takes immediate effect nationwide, according to a notice sent to marketers. The refinery said the adjustment is aimed at boosting the competitiveness of locally refined fuel.

With the landing cost of imported PMS from Lome currently around ₦793 per litre, Dangote’s new ex-depot price of ₦774 is now lower, giving local supply a pricing edge.

Meanwhile, Aliko Dangote is exploring fresh investment opportunities in Burundi as part of plans to expand the group’s footprint across Africa. He visited Burundian President Evariste Ndayishimiye alongside former President Olusegun Obasanjo.

Dangote said the focus remains on investing heavily within Africa, highlighting sectors such as solid minerals, power generation, agriculture, cement production and infrastructure. Two technical teams from both sides have been set up to identify priority areas and develop viable projects.

The move is seen as part of a broader push to deepen industrialisation and attract large scale private investment across the continent.