Business
Dangote Refinery Lowers Petrol Price to N815 Per Litre
Dangote Refinery has reduced its ex-depot price for premium motor spirit (PMS) to N815 per litre. This adjustment follows a drop in fuel landing costs, which recently fell to N774.82 per litre, lower than Dangote’s previous ex-depot price of N825 per litre.
Industry insiders have confirmed the price reduction, although Dangote Refinery has not made any official statement about it.
Chinedu Ukadike, the spokesperson for the Independent Petroleum Marketers Association of Nigeria, acknowledged the change. He explained that speculation about lower prices for imported products is fueling the competition. He added that since Dangote has a large supply of fuel, reducing prices helps to protect its market share.
It’s unclear whether this reduction will affect the pump price at Dangote-affiliated stations like MRS, which currently sells petrol at N860 per litre in Lagos and N880 in Abuja.
In recent months, Dangote Refinery and the Nigerian National Petroleum Company Limited have been locked in a competitive price battle.
Meanwhile, the Petroleum Products Retail Outlet Owners Association recently met with the Minister of State for Petroleum, Heineken Lokpobiri, to push for more stable and competitive fuel prices.
- MTN Nigeria Communications Plc (MTNN) – Strong telecom growth and 5G expansion.
- Dangote Cement Plc (DANGCEM) – Leading cement maker benefiting from infrastructure demand.
- Guinness Nigeria Plc (GUINNESS) – Consumer stock with solid turnaround potential.
- Okomu Oil Palm Plc (OKOMUOIL) – Agriculture stock tied to palm oil demand.
- Seplat Energy Plc (SEPLAT) – Energy player with gas and oil sector exposure.
- Zenith Bank Plc (ZENITHBANK) – Tier-1 bank with strong financial performance.
- Guaranty Trust Holding Company Plc (GTCO) – Leading bank with diversified revenue streams.
- Presco Plc (PRESCO) – Palm oil producer with export and dividend potential.
- NASCON Allied Industries Plc (NASCON) – FMCG stock with strong fundamentals.
- Aradel Holdings Plc (ARADEL) – Growing energy sector stock with upstream exposure.
It has been noted that the National Youth Service Corps (NYSC) and British American Tobacco Nigeria Foundation (BATNF) plan to renew their partnership in agribusiness.
The new project is to involve youth in the agriculture business, widen their horizons, and educate them about the agritech sector.
The general manager shared that “The foundation is not only providing grants but also building a system of mentorship, structure, and support that enables corps members to see agribusiness as a serious enterprise pathway.” The plan is to use the NYSC platform to engage youths.
Idi Mukhtar Maiha, Minister of Livestock Development, has revealed the government’s intention of placing women in the livestock transformation agenda that they have in store for Nigeria.
During a recent event, he praised women, describing them as the backbone of the country, and shared that the country will keep on needing their support, hence the inclusion of the agenda team.
He also praised the First Lady for the impact she has made in the country so far and her advocacy for women’s empowerment.
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