The Dangote Petroleum Refinery and Petrochemicals Limited announced on Tuesday that it has begun commercial distribution of Premium Motor Spirit (PMS) to independent petroleum marketers at ₦1,150 per litre — a ₦270 reduction compared to the current NNPC Limited depot price of ₦1,420.
Aliko Dangote, President of the Dangote Group, confirmed in a statement that initial supply capacity stands at 30 million litres per day, with plans to scale to 50 million litres daily by end of July 2025.
The Major Energies Marketers Association of Nigeria (MEMAN) confirmed that over 40 member companies had placed initial orders totalling 1.2 billion litres for July delivery. "This is the market correction Nigeria has been waiting for. Competition is finally arriving in downstream petroleum," said MEMAN Executive Secretary Clement Isong.
NNPC Limited has not yet commented on whether it will match the new pricing, but market analysts at FBNQuest expect pump prices to begin falling within 72 hours as marketers start receiving Dangote PMS at competing depots.