The Dangote Petroleum Refinery has slashed its ex-gantry petrol loading cost to N865 per litre, marking a N15 reduction from the N880 it sold on Wednesday.
This development was confirmed through a notice sent to marketers on Thursday morning, alongside a Pro forma invoice sighted by our correspondent. Industry pricing portal, petroleumprice.ng, also reflected the new rate, indicating the refinery’s move toward easing fuel costs.
Speaking on the trend, Chinedu Ukadike, National Publicity Secretary of the Independent Petroleum Marketers Association of Nigeria (IPMAN), reaffirmed that the pricing shift supports the recent Federal Government directive for local crude transactions to be carried out in naira.
On Wednesday, the Federal Executive Council (FEC) officially greenlit the full implementation of the previously suspended Naira-for-Crude initiative. The policy mandates crude oil sales to local refiners, such as Dangote, in local currency, aiming to sstabilise fuel prices and reduce dollar dependency.
According to the Ministry of Finance, the initiative is not a stopgap but a long-term strategy to enhance Nigeria’s energy security and boost domestic refining.
“This is a key policy directive designed to reduce reliance on foreign exchange in the petroleum sector,” the Ministry said in a statement posted on its official X handle.
The announcement followed a high-level meeting on Tuesday chaired by Finance Minister Wale Edun and attended by key stakeholders, including representatives from Dangote Refinery, NNPC, the Central Bank, and regulatory bodies.
