Dangote Petroleum Refinery has reduced its diesel price by N80 per litre, bringing the price down from N1,780 to N1,700. This change takes effect on Wednesday, October 7, 2026, according to a notice from the refinery.
The reduction represents a 4.5 percent cut and comes as diesel import costs have fallen. The price of Brent crude oil dropped to about $98 per barrel before recovering to around $100, while West Texas Intermediate crude was also trading below $90.
This is the second price cut by Dangote Refinery in a month. The new price is now close to the estimated cost of importing diesel. Data from the Major Energies Marketers Association of Nigeria (MEMAN) shows that the estimated cost of diesel fell by N127.28 per litre in just two days, from N1,823.68 on September 30 to N1,696.40 on October 2.
The decline in costs is linked to fluctuating international crude prices, which have been affected by supply concerns due to conflicts in the Middle East and efforts by oil producers to maintain supply levels.
In its notice, Dangote Refinery mentioned that details about credit values related to the price adjustment would be shared separately. The new price of N1,700 per litre is only slightly above MEMAN’s estimated import cost of N1,696.40.
This price reduction may impact diesel prices across the domestic market, especially for businesses that rely on diesel for power generation and other operations.
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