Dangote Petroleum Refinery has cut the gantry price of diesel by ₦200 per litre, reducing the depot price from ₦1,800 to ₦1,600 per litre.
The adjustment comes amid increased fuel imports into Nigeria, which have boosted supply and intensified competition in the downstream petroleum sector.
Industry sources disclosed that the new price became effective on May 26, with operators attributing the reduction to the arrival of fresh imported petroleum cargoes into the country.
A representative of the Petroleum Products Retail Outlets Owners Association of Nigeria (PETROAN) explained that the landing of imported fuel shipments has changed the market situation, forcing suppliers to review prices downward.
The latest development follows recent disagreements between petroleum marketers and the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) regarding the issuance of import licences. Some marketers were recently granted approval to import fuel products, increasing product availability across the market.
Industry analysts believe the diesel price cut could ease operational and transportation costs for businesses that rely heavily on the product for power generation, logistics and manufacturing activities, provided the lower price is sustained.
