Global Oil Drop Triggers Drop In Dangote’s Petrol. The Dangote Refinery said it reduced its gantry price by N25 following drop in oil prices globally.
KaNo —
The Dangote Petroleum Refinery has dropped its petrol gantry price by N25 per litre, from N1,275 to N1,250.
In a statement signed and made available to journalists on Saturday,the Group Chief Branding and Communications Officer of Dangote Group, Anthony Chiejina, said it reduced the ex-gantry price of petrol to N1,250 per litre from N1,275 per litre.
Analysts had earlier predicted that petrol prices might fall in Nigeria following the ongoing negotiations between the United States and Iran to reopen the Strait of Hormuz.
Speculation among oil traders crashed oil prices from around $111 per barrel in the previous week to $91 as of Saturday. According to the Dangote official, oil prices are still volatile and require caution.
Global Oil Drop Triggers Drop In Dangote’s Petrol
“We have reduced the petrol price to N1,250 at our gantry. This has to do with the current reduction in global oil prices, though everything is still volatile and requires caution,” he said
Petroleumprice.ng reports that depot prices were already responding to shifting supply dynamics, saying Aiteo and NIPCO were selling at N1,272 per litre, while Integrated, Ascon, and African Terminal traded at around N1,274 per litre, below Dangote’s previous gantry price of N1,275 per litre.
The Middle-East crisis has led to a sharp increase in prices of fuel which went from below $70 to about $115 after the US-Iran war began on February 28. In about three months of the conflict, crude traded above $100 and climbed beyond $115 at some points, leading to a sharp rise in fuel prices globally.
In Nigeria, petrol prices increased from N830 per litre to the current N1,300. Diesel and aviation fuel prices also rose sharply, with airline operators threatening to suspend operations.
Global Oil Drop Triggers Drop In Dangote’s Petrol
As crude prices continued their downward trend in recent days, traders expressed hope that the Dangote refinery might consider reducing petrol prices.
There were reports that the US and Iran had agreed in principle to a deal aimed at winding down the conflict in the Middle East by reopening the Strait of Hormuz.
NNPCL Witness Revenue Increase
The Nigerian National Petroleum Company Limited has recorded a significant month-on-month surge in performance, with revenue climbing sharply to N4.97tn in April 2026, compared to N2.77tn posted in March.
This represents an increase of about 79 per cent in monthly revenue, according to the company’s April 2026 operational and financial report released on Saturday.
Global Oil Drop Triggers Drop In Dangote’s Petrol
Between January and April 2026, NNPC said it remitted a total of N3.71tn in statutory payments to the Federal Government. This is up from N2.89tn recorded for the first three months of the year.
The report stated that crude oil and condensate production increased to 1.68 million barrels per day in April from 1.56 mbpd in March, indicating a marginal recovery in upstream output.
Natural gas production remained largely stable at 7.7 billion standard cubic feet per day in April. Gas sales averaged 4.65 bscf/d, while upstream pipeline availability stood at 79 per cent.
Global Oil Drop Triggers Drop In Dangote’s Petrol
The oil firm stated that it achieved a major infrastructure milestone in April with the successful crossing of the OB3 River Niger pipeline segment, advancing Nigeria’s gas infrastructure goals. Progress also continued on the Ajaokuta-Kaduna-Kano gas pipeline project.
However, NNPC noted challenges, including delays in the start-up of the Trans Ramos Pipeline due to leak detection and facility integrity issues.
Similarly, the NNPC Foundation reportedly sustained its strong corporate social responsibility drive in April. It commissioned three fully rehabilitated wards with 102 beds at the National Orthopaedic Hospital, Lagos, on April 29.
Global Oil Drop Triggers Drop In Dangote’s Petrol
The Foundation also said it delivered humanitarian aid to flood victims in Mokwa, Niger State, and trained 72,657 NYSC members in basic financial literacy during the month under review.
Address Incessant Increase In Petrol Price-Expert
An economist at Sa’adatu Rimi College of Education, Dr. Abdussalam Kani, during an interview with Freedom Radio Kano,on Friday,urged the federal government to adopt practical measures to reduce the rising cost of transportation and fuel in the country.
Kani, who lectures in the Department of Economics at the college, said one of the options is for the government to collaborate with the Dangote Refinery to refine crude oil for domestic consumption at subsidised rates.
He said the government could allocate a certain quantity of crude oil to the refinery to process on its behalf, which would then be supplied to filling stations at lower prices for Nigerians.
The economist also advised the government to introduce subsidised public transportation by deploying buses at designated locations for civil servants, students and other commuters.
According to him, such vehicles could operate from strategic points in cities and towns to reduce the burden of transportation costs on the public.
Kani further recommended expanding the use of vehicles powered by Compressed Natural Gas (CNG), noting that the initiative could significantly lower transport expenses.
He said the government should procure more CNG-powered vehicles and deploy them within the public transport system to provide cheaper alternatives for commuters.
