Dangote Petroleum Refinery has reduced its depot price for diesel by ₦200 per litre, bringing the cost down from ₦1,800 to ₦1,600 effective May 26, 2026.
The reduction comes as increased petroleum imports into Nigeria continue to boost product supply and heighten competition within the downstream oil market.
Industry insiders said the influx of imported fuel products at Nigerian ports has placed pressure on domestic pricing, contributing to the latest adjustment in diesel costs.
A representative of the Petroleum Products Retail Outlets Owners Association of Nigeria reportedly stated that the growing volume of imports has improved fuel availability and influenced current market prices.
The development follows ongoing discussions over fuel import licences and regulation in the downstream sector, with regulators approving more marketers to import petroleum products into the country.
Market analysts believe the increasing competition is beginning to drive down diesel prices, potentially easing operational costs for manufacturers, transporters, businesses, and other diesel-dependent industries.
Stakeholders also noted that further reductions could occur if supply levels remain steady and competition within the sector continues to strengthen.
Widely recognised as Africa’s largest refinery project, Dangote Petroleum Refinery remains a major force influencing fuel supply and pricing trends in Nigeria.
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