Reports filtering in revealed that the Dangote Refinery has announced a significant reduction in its ex-gantry loading cost, now priced at N865 per litre—down from N880 on Wednesday.
The refinery notified its customers early Thursday, with a pro forma invoice confirming the cut. The price adjustment follows earlier predictions of a reduction by industry insiders and is expected to contribute to ongoing fuel price drops.
The announcement comes on the heels of a Federal Executive Council decision to implement the suspended Naira-for-Crude agreement with local refiners.
The move aims to boost sustainable domestic refining and reduce Nigeria’s reliance on foreign exchange for petroleum products.
National Publicity Secretary of the Independent Petroleum Marketers Association of Nigeria, Chinedu Ukadike, confirmed the price drop and reaffirmed the commitment to affordable fuel costs.
Meanwhile, the Ministry of Finance assured that the Naira-for-Crude initiative is not a temporary measure but a long-term strategy to enhance local refining capacity and strengthen energy security.
