Dangote Petroleum Refinery has announced a N65.00 reduction in the ex-depot (gantry) price of Premium Motor Spirit (PMS), commonly known as petrol, bringing the price down from N890 to N825 per litre.
This price adjustment comes as part of Dangote Refinery’s continuous efforts to alleviate the burden of fuel costs on the Nigerian populace and support President Bola Ahmed Tinubu’s economic recovery policies.
The reduction aims to provide essential relief to the Nigerian people, especially during the upcoming Ramadan period, when the cost of living traditionally rises due to increased demand for goods and services.
In a statement issued, the refinery described the latest N65 price cut as a strategic move aimed at providing economic relief to Nigerians ahead of the Ramadan season.
“This strategic price adjustment is designed to provide essential relief to Nigerians in anticipation of the upcoming Ramadan season, while also supporting President Bola Ahmed Tinubu’s economic recovery policy by alleviating the financial burden on the Nigerian populace.”
Dangote Petroleum Refinery
This reduction marks the second price cut for petrol in February 2025. Earlier this month, Dangote Petroleum Refinery reduced the price of PMS by N60.00 per litre, reflecting its ongoing commitment to reducing fuel prices despite global price fluctuations.
The refinery had also slashed the price of petrol by N70.50 in December 2024, during the yuletide season, reducing the price from N970 to N899.50 per litre.
These price cuts come at a time when Nigerians have traditionally faced fuel scarcity and price hikes during the holiday and festive seasons.
The company’s efforts are part of the broader strategy to make Nigeria self-sufficient in refined petroleum products, eliminating the need for imports and reducing the economic strain caused by importation.
Dangote Petroleum Refinery is working towards increasing the nation’s export capacity, further establishing Nigeria as a leading hub for oil and gas exports in Africa.
Price Adjustment Across Retail Outlets
The new price adjustment means that Nigerians will be able to purchase Dangote petrol at reduced rates at various retail outlets across the country.
“For MRS Holdings stations, it will sell for N860 per litre in Lagos, N870 per litre in the South-West, N880 per litre in the North, and N890 per litre in the South-South and South-East respectively.”
Dangote Petroleum Refinery
Similarly, Ardova Petroleum (AP) and Heyden stations will offer Dangote petrol at prices ranging from N865 per litre in Lagos to N895 per litre in the South-South and South-East.
These prices will remain consistent across all partner outlets and are expected to be competitive in comparison to other stations in the market, contributing to the stabilization of petrol prices across the nation.
Dangote Petroleum Refinery also reassured the Nigerian public that there will be a consistent supply of petroleum products across the country.
The refinery stressed that it has sufficient reserves of petroleum products to meet domestic demand and provide additional supply for export, thereby boosting the nation’s foreign exchange earnings.
“Our goal is to keep the prices affordable for the Nigerian people, while also contributing to the country’s growth by expanding its export potential.”
Dangote Petroleum Refinery
Dangote Petroleum Refinery also urged marketers to support this initiative, emphasizing that a collective effort will ensure that Nigerians are the primary beneficiaries of the price cuts and consistent supply of petroleum products.
Dangote Petroleum Refinery’s reduction in petrol prices is a welcome development for Nigerians, especially as the country prepares for the Ramadan season.
The move supports the Nigerian government’s broader goal of reducing the financial burden on its citizens while promoting economic recovery.
With the continued commitment of Dangote Petroleum Refinery to supply high-quality products at affordable prices, Nigeria is on track to become more self-sufficient in its energy sector, reducing its reliance on imported petroleum products and bolstering its position as a leader in the African energy market.
The price cuts will go a long way in providing relief to Nigerians, ensuring that the economic recovery plan gains momentum, and contributing to a brighter economic future for the nation.
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