There is relief at the pumps after Dangote Refinery announced a reduction in its petrol loading price to ₦1,075 per litre, down from ₦1,076 per litre.
The ₦1 drop has triggered celebrations among some APC supporters, who thanked President Bola Tinubu’s government for the adjustment.
In a notice to marketers on Tuesday, Dangote Refinery said the ex-depot loading price for Premium Motor Spirit, PMS, will now be ₦1,075 per litre, a ₦1 reduction from the previous ₦1,076 per litre.
The refinery said the change reflects recent market adjustments and its commitment to making fuel more affordable for Nigerians. Loading began at the new rate immediately.
Marketers say the new ex-depot price could translate to a slight drop at retail stations, depending on logistics, transport costs, and dealer margins.
APC supporters took to X and WhatsApp groups to celebrate the news. “Good news at last. We jubilate and thank APC, Tinubu government. ₦1 is still a reduction,” one user wrote.
Others shared photos of queues at stations, saying they expect pump prices to adjust in the coming days. “Even ₦1 matters when you are buying 50 litres,” a commercial driver in Lagos said.
While many welcomed the cut, others said ₦1 is too small to matter given current living costs. “From ₦1,076 to ₦1,075? That is not a reduction, that is rounding,” a critic posted.
Economists noted that fuel pricing in Nigeria is now market-driven after subsidy removal, so small daily adjustments are expected as crude prices, forex, and refining costs shift. They said sustained relief will depend on naira stability, local refining volumes, and lower logistics costs.
Dangote Refinery has played a central role since it began supplying petrol locally. Government officials say increased domestic refining should reduce import dependence and price volatility over time.
For now, the ₦1 drop is largely symbolic. At 50 litres, a motorist saves ₦50. But APC leaders say it shows the direction of travel under Tinubu…See More
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