Dangote Refinery and NNPCL Cut Petrol Prices in Nigeria

The Dangote Petroleum Refinery and the Nigerian National Petroleum Company Limited (NNPCL) have implemented series of petrol price reductions in late June 2026, driven by falling global crude oil prices and easing Middle East tensions. On June 26, Dangote Refinery lowered its nationwide gantry price by N50 per litre, from N1,175 to N1,125. This represented the third reduction in recent weeks, following cuts on May 30 and June 16, totaling a cumulative decrease of N150 per litre since May.

Dangote Refinery also reduced its coastal petrol supply price from N1,495,215 to N1,428,165 per metric tonne. Management attributed these adjustments to cost efficiencies and a commitment to Nigeria's energy security. The price drops coincided with Brent crude and West Texas Intermediate trading between $69 and $73 per barrel, aided by a ceasefire between the United States and Iran.

Following the refinery's move, the NNPCL reduced its retail pump price by N50 per litre, dropping the rate from N1,260 to N1,210. This was the second adjustment by the state-owned company in four days. Despite these changes, retail prices in Abuja remain varied, ranging from N1,210 to N1,305 per litre. Consumers continue to demand further reductions to N800-N900 per litre, though President Bola Tinubu and the federal government have not issued official statements on further relief.