Business
Dangote Refinery Slashes Cooking Gas Prices to N760/kg
Dangote Refinery cuts cooking gas prices to N760/kg as local supply rises and naira stabilises, easing costs for Nigerian households
Nigeria has recorded a significant decline in cooking gas prices, led by Dangote Refinery, which recently reduced its ex-depot rate to N760 per kilogram.
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Other private depots now sell LPG at an average of N800 per kilogram, reflecting increased competition and supply.
The price drop is the sharpest since January 2026, following reduced imports and expanded domestic production.
Industry analysts attribute the decline to improved foreign exchange stability and greater refining capacity.
Retailers, including major outlets such as Gasland, have adjusted prices to around N950 per kilogram, factoring in distribution and operational costs.
Dealers report that easier access to LPG has eliminated previous long queues at supply points.
“The competition has gotten fierce, and pricing is now the main strategy to attract customers,” said Solomon Olarenwaju, a dealer in Lagos.
Experts predict further price reductions in the coming months if the naira remains stable and local production continues to rise.
They caution, however, that global energy market fluctuations and logistics costs could affect future rates.
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For millions of Nigerian households, the drop offers much-needed relief from high energy costs, encouraging a shift back to cleaner cooking alternatives like LPG instead of firewood and charcoal.
Dangote Petroleum Refinery has set its initial public offering price at ₦525 per share, with the company seeking to raise about ₦2.15 trillion as it prepares to enter Nigeria’s public equities market.
The Securities and Exchange Commission has approved the offer for 4.1 billion ordinary shares at ₦525 each. If fully subscribed, the offer would generate approximately ₦2.15 trillion, equivalent to about $1.6 billion at current exchange rates.
The offering is expected to open on 14 September 2026, according to Aliko Dangote, the president of Dangote Industries. The planned sale is positioned to become one of the largest equity offerings in Africa.
The IPO marks a significant step in Dangote Group’s plans to broaden ownership of the refinery and raise additional capital for expansion.
The refinery currently has a stated processing capacity of 650,000 barrels of crude oil per day. Dangote has said the company plans to increase that capacity to 1.4 million barrels per day as part of its longer-term expansion strategy.
The planned share sale follows a $1 billion underwriting programme completed in August, providing additional financial backing ahead of the public offering.
The refinery, located in the Lekki area of Lagos State, is one of Africa’s largest industrial projects and has become an increasingly important player in Nigeria’s fuel supply market since beginning operations.
The public offering will give Nigerian investors an opportunity to acquire shares in the refinery directly, while providing Dangote Petroleum Refinery with fresh capital to support its next phase of growth.
The company has also indicated ambitions to expand beyond its current Nigerian operations, with Dangote recently announcing plans for another refinery project in Kenya.
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