Dangote Refinery Cuts Petrol Price to N865 Amid Naira-for-Crude Policy Push

The Dangote Refinery has reduced its petrol loading price to N865 per litre—marking a N15 drop from the N880 previously charged. Confirmed through a pro forma invoice and petroleumprice.ng, the price adjustment was officially communicated to marketers on Thursday morning. Industry insiders had earlier projected the price drop—in line with the federal government’s push for local refining. National Publicity Secretary of the Independent Petroleum Marketers Association of Nigeria, Chinedu Ukadike spoke on the development where he reaffirmed the expected downward trend in prices—connecting it to the recent Federal Executive Council directive on the naira-for-crude policy. The policy, now in full implementation mandated that local refineries including Dangote purchase crude oil in naira rather than foreign exchange. The Federal Ministry of Finance stressed that the initiative is a long-term strategic move aimed at strengthening domestic refining capacity and reducing Nigeria’s reliance on foreign currency for petroleum imports. Stakeholders have expressed optimism that this approach will enhance energy security and price stability in the downstream sector.