Dangote Petroleum Refinery has reduced the ex-depot price of petrol from ₦880 to ₦840 per litre, effective Monday, June 30, 2025.
The price cut follows a decline in global crude oil prices as tensions between Israel and Iran eased, with Brent crude falling to $67.61 per barrel.
The refinery’s spokesman, Tony Chiejina, confirmed the adjustment, which comes just a week after the Lagos-based facility raised prices to ₦880.
Major filling stations, including MRS Oil & Gas, Ardova Plc, and Heyden, are expected to lower pump prices below ₦900 in response.
In a related development, Dangote Refinery recently announced plans to distribute free petrol and diesel to marketers and large-scale users starting August 15, 2025, alongside a credit facility for bulk buyers.
However, the move has drawn criticism from petrol marketers and truck owners, who fear it could disrupt existing supply chains.
Nigeria, long plagued by energy shortages, had relied heavily on fuel imports until Dangote Refinery began local production.
Since the removal of petrol subsidies in May 2023, prices have surged from ₦200 to over ₦1,000 per litre, worsening economic pressures on households and businesses dependent on petrol for power and transportation.
Dele Fashomi, seasoned journalist and communication teacher, is a holder of Master of Arts degree in Communication and Language Arts from the University of Ibadan in 1992/93.
Earlier, he had bagged a Bachelor degree from the same university in 1984, after which he proceeded to the Nigerian Institute of Journalism, Lagos, in 1990, for a postgraduate diploma in Journalism.
He had done many courses in communication, including the EU-BBC Editing Course in 2002.
Mr. Fashomi combines effectively the practice, research and teaching of communication. And to date, he has published two academic works in communication: Issues in Communication Technology and Policy (2010) and Economic and Social Issues in Advertising and PR (2013).
He had his first break in the Nigerian media in Concord Newspapers in 1990 and today, he has over two and half decades experience earned in several newspapers.
He has been part of many start-ups, such as The Republic (1987), The Comet (1999), The Anchor 2001 – 2002; Sun Newspapers (2003); Westerner newsmagazine (2005 – 2010) as Editor; National Life (2011) as Sunday Editor, and Newswatch Newspapers (2012- 2016) as Daily Editor.
Dele Fashomi is now the Publisher/Editor-in-Chief of Newstide247.com newspaper online, which he started in July 2015. He is also into biography writing, with many books in his trail, some of which he wrote alone and one he co- authored with his mentor, Mr Dare Babarinsa, entitled: Olabiyi Durojaiye – DARE TO BE DiFFERENT. He also guided and collaborated with Pa Olatunji Odusanya in writing his autobiography – AGAINST ALL ODDS. There are many other books in the works under his pen.
