In a significant development during rising global oil prices, Dangote Refinery has demonstrated resilience by keeping its ex-depot Premium Motor Spirit (PMS) price steady at NGN 835 per litre. This decision provides stability amidst a market characterized by widespread price increases.
Dangote’s Price Template for June 16, 2025
Dangote Refinery’s current price template reflects its strategic pricing policy:
- PMS Gantry: NGN 835.00 per litre
- PMS Coastal: NGN 770.00 per litre
- AGO Gantry: $684.25 + $55 (payable in Naira at FX: 1605 or in USD)
- AGO Coastal: $684.25 + $8
- ATK Gantry: $741.50 + $42
- ATK Coastal: $741.50 + $22
- LPG Gantry: NGN 840,000 (inclusive of NMDPRA charges)
This stability contrasts sharply with other depots in Lagos, which have increased prices to account for rising costs.
Comparing Depot Prices: June 11 vs. June 13
The price changes at major Lagos depots between June 11 and June 13, 2025, illustrate the upward trend:
- Aiteo: NGN 825 → NGN 840 (1.82% increase)
- Nipco: NGN 827 → NGN 845 (2.18% increase)
- Menj: NGN 826 → NGN 850 (2.90% increase)
- First Royal: NGN 826 → NGN 838 (1.45% increase)
- Emadeb: NGN 827 → NGN 845 (2.18% increase)
- Pinnacle: NGN 829 → NGN 845 (1.93% increase)
- Swift: NGN 830 → NGN 845 (1.81% increase)
These increases highlight the pressures facing depots, with price hikes ranging from 1.45% to 2.90%. In stark contrast, Dangote Refinery has held its PMS price steady, offering much-needed consistency.
Market Implications of Dangote’s Stability
Despite these market fluctuations, marketers are retailing PMS at approximately NGN 838 per litre, closely aligning with Dangote’s ex-depot price. This alignment underscores Dangote’s role as a stabilizing force in Nigeria’s downstream petroleum sector.
By resisting the urge to increase prices, Dangote Refinery reinforces its leadership in the market. Its strategy provides relief to consumers and marketers navigating a volatile oil market.
This commitment to price stability during uncertain times highlights Dangote Refinery’s pivotal role in supporting Nigeria’s energy security.
