• About
  • Advertise
  • Privacy Policy
  • Contact
Wednesday, July 2, 2025
  • Login
The Vaultz News
  • Top Stories
  • News
    • General News
    • Education
    • Health
    • Opinions
  • Economics
    • Economy
    • Finance
      • Banking
      • Insurance
      • Pension
    • Securities/Markets
  • Business
    • Agribusiness
    • Vaultz Business
    • Extractives/Energy
    • Real Estate
  • World
    • Africa
    • America
    • Europe
    • UK
    • USA
    • Asia
    • Around the Globe
  • Innovation
    • Technology
    • Wheels
  • Entertainment
  • 20MOBPL2DNew
  • Jobs & Scholarships
    • Job Vacancies
    • Scholarships
No Result
View All Result
The Vaultz News
  • Top Stories
  • News
    • General News
    • Education
    • Health
    • Opinions
  • Economics
    • Economy
    • Finance
      • Banking
      • Insurance
      • Pension
    • Securities/Markets
  • Business
    • Agribusiness
    • Vaultz Business
    • Extractives/Energy
    • Real Estate
  • World
    • Africa
    • America
    • Europe
    • UK
    • USA
    • Asia
    • Around the Globe
  • Innovation
    • Technology
    • Wheels
  • Entertainment
  • 20MOBPL2DNew
  • Jobs & Scholarships
    • Job Vacancies
    • Scholarships
No Result
View All Result
The Vaultz News
No Result
View All Result

Dangote Refinery Cuts Petrol Price to N890 per Liter

February 2, 2025
Prince Agyapongby Prince Agyapong
in Extractives/Energy
0
Dangote Refinery

Dangote Refinery

The Dangote Petroleum Refinery has announced a reduction in the ex-depot (gantry) price of Premium Motor Spirit (PMS), commonly known as petrol, from N950 to N890 per litre.

This price reduction, which is effective immediately, has been hailed as a significant move to help alleviate the economic pressures on Nigerian consumers, businesses, and various sectors of the economy.

Anthony Chiejina, a spokesperson for Dangote Petroleum Refinery, explained that the company’s decision to reduce the price of petrol comes after careful analysis of the international oil market.

RelatedPosts

Nigeria’s Gas Production Dips in May, Fuel Supply Drops to 62% 

Ghana Sets Ambitious Course to Become West Africa’s EV Hub 

Small-Scale Miners Urge Government to Implement Cooperative Mining Scheme 

He pointed out that in January 2025, the company had made a modest increase in petrol prices due to the rising cost of crude oil globally. However, the recent stabilization of international oil prices provided an opportunity for the refinery to lower its prices, benefiting consumers nationwide.

“This strategic adjustment is a direct response to the positive outlook within the global energy and gas markets, as well as the recent reduction in international crude oil prices.”

Anthony Chiejina, Spokesperson for Dangote Petroleum Refinery

Chiejina further emphasized that the price revision reflects the fluctuations in global crude oil markets, a factor the refinery has consistently highlighted as part of its pricing strategy.

Dangote Refinery attributed the price cut to favorable conditions in the global energy and gas markets, as well as a recent dip in international crude oil prices.

The refinery emphasized that this adjustment reflects the company’s ongoing commitment to staying responsive to market dynamics, ensuring fair pricing while aligning with global trends.

The reduction in petrol prices is expected to have a cascading effect across Nigeria’s economy. Dangote Petroleum Refinery believes that lowering the price of PMS from N950 to N890 per liter will significantly reduce the cost of transportation and goods, thereby helping to lower the overall cost of living in the country.

A decrease in petrol prices typically leads to reduced transportation costs, which in turn positively impacts the price of goods and services in both urban and rural areas.

Appeal to Stakeholders

Dangote Refinery
Dangote Refinery

The company also called upon marketers and distributors to ensure that the benefits of the price reduction are passed on to consumers at the retail level.

The refinery urged stakeholders in the petroleum sector to work collaboratively, ensuring that the positive effects of the price reduction reach Nigerian households and businesses.

“Dangote Petroleum Refinery firmly believes that this reduction will result in a meaningful decrease in the cost of petrol nationwide, thereby driving down the prices of goods and services, as well as the overall cost of living, with a positive ripple effect on various sectors of the economy.”

Anthony Chiejina, Spokesperson for Dangote Petroleum Refinery

The announcement also aligns with Nigeria’s broader economic recovery agenda, as championed by President Bola Ahmed Tinubu’s administration.

The reduction in petrol prices is seen as part of the government’s ongoing efforts to stabilize the economy and ease the financial burden on citizens. By fostering a more favorable pricing environment for petroleum products, the administration aims to drive down inflationary pressures and enhance the purchasing power of Nigerian consumers.

Dangote Petroleum Refinery’s move is also consistent with the broader goal of achieving energy self-sufficiency and boosting Nigeria’s position as a key player in the global oil market.

In recent years, Nigeria has sought to reduce its reliance on imported petroleum products, which have been a drain on the country’s foreign reserves.

With Dangote Refinery ramping up its production capacity, Nigeria aims to fulfill its domestic demand for refined petroleum products and potentially export to other nations.

“The reduction in petrol prices reflects our commitment to transparency and fairness in the energy sector.

“It also supports Nigeria’s long-term objective of becoming self-sufficient in refined petroleum products while contributing to economic growth and stability.”

Anthony Chiejina, Spokesperson for Dangote Petroleum Refinery

As the country continues to work towards energy independence, this price adjustment is a reflection of the delicate balancing act that the Dangote Petroleum Refinery must navigate.

By aligning its pricing strategy with international market trends while ensuring that the Nigerian consumer benefits from lower costs, the company has demonstrated its commitment to both the economy and its customer base.

READ ALSO: M23 Rebels Close In On Bukavu With Plans To Take Kinshasa

Tags: Crude OilDangote refineryglobal oil marketsoil pricesPetrol Price
Please login to join discussion
Previous Post

Prof. Gyampo Touts Leadership Credibility, Addresses Critics on New CEO Appointment

Next Post

Public Confidence in Ghana’s Direction Hits Record High – Poll

Sign up for The Vaultz analytic wire

Get weekly news analysis from top editors at The Vaultz and stay informed on trending economic and business issues from across the globe.

Related Posts

Communication Minister Engages MTN Over Data Price Glitch and Delays
General News

Communication Minister Engages MTN Over Data Price Glitch and Delays

July 1, 2025
Kepa Arrizabalaga
Uncategorized

Arsenal Signs Kepa from London Rival

July 1, 2025
Hamza Suhuyini Sayibu, President, GBA
General News

Why Hasn’t GBA Sued Over Chief Justice Suspension?

July 1, 2025
President John Dramani Mahama
General News

Mahama Calls for National Unity, Moral Renewal at Muslims’ National Day of Prayer

July 1, 2025
Hubtel Dominates 2025 Digital Innovation Awards with Four Major Wins Celebrating
Banking

Hubtel Dominates 2025 Digital Innovation Awards with Four Major Wins Celebrating

July 1, 2025
Gas Flaring Waste
Extractives/Energy

Nigeria’s Gas Production Dips in May, Fuel Supply Drops to 62% 

July 1, 2025
Communication Minister Engages MTN Over Data Price Glitch and Delays
General News

Communication Minister Engages MTN Over Data Price Glitch and Delays

by Silas Kafui AssemJuly 1, 2025
Kepa Arrizabalaga
Uncategorized

Arsenal Signs Kepa from London Rival

by Evans Junior OwuJuly 1, 2025
Hamza Suhuyini Sayibu, President, GBA
General News

Why Hasn’t GBA Sued Over Chief Justice Suspension?

by Silas Kafui AssemJuly 1, 2025
President John Dramani Mahama
General News

Mahama Calls for National Unity, Moral Renewal at Muslims’ National Day of Prayer

by Evans Junior OwuJuly 1, 2025
Hubtel Dominates 2025 Digital Innovation Awards with Four Major Wins Celebrating
Banking

Hubtel Dominates 2025 Digital Innovation Awards with Four Major Wins Celebrating

by Stephen M.CJuly 1, 2025
Gas Flaring Waste
Extractives/Energy

Nigeria’s Gas Production Dips in May, Fuel Supply Drops to 62% 

by Prince AgyapongJuly 1, 2025
Communication Minister Engages MTN Over Data Price Glitch and Delays
Kepa Arrizabalaga
Hamza Suhuyini Sayibu, President, GBA
President John Dramani Mahama
Hubtel Dominates 2025 Digital Innovation Awards with Four Major Wins Celebrating
Gas Flaring Waste
[/vc_row_inner]

Recent News

  • Communication Minister Engages MTN Over Data Price Glitch and Delays
  • Arsenal Signs Kepa from London Rival
  • Why Hasn’t GBA Sued Over Chief Justice Suspension?
  • Mahama Calls for National Unity, Moral Renewal at Muslims’ National Day of Prayer
  • Hubtel Dominates 2025 Digital Innovation Awards with Four Major Wins Celebrating
The Vaultz News

Copyright © 2021 The Vaultz News. All rights reserved.

Navigate Site

  • About
  • Advertise
  • Privacy Policy
  • Contact

Follow Us

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
No Result
View All Result
  • Top Stories
  • News
    • General News
    • Education
    • Health
    • Opinions
  • Economics
    • Economy
    • Finance
      • Banking
      • Insurance
      • Pension
    • Securities/Markets
  • Business
    • Agribusiness
    • Vaultz Business
    • Extractives/Energy
    • Real Estate
  • World
    • Africa
    • America
    • Europe
    • UK
    • USA
    • Asia
    • Around the Globe
  • Innovation
    • Technology
    • Wheels
  • Entertainment
  • 20MOBPL2D
  • Jobs & Scholarships
    • Job Vacancies
    • Scholarships

Copyright © 2021 The Vaultz News. All rights reserved.