Dangote Petroleum Refinery has slashed the ex-depot price of Premium Motor Spirit (PMS), also known as petrol, to ₦825 per litre.
The Head of Media Relations and Branding Communications at Dangote Group, Esan Sunday, announced the price adjustment in a statement on Wednesday.
The latest reduction follows a previous cut from ₦950 to ₦890 per litre, marking a total decrease of ₦125 within a few weeks.
“This recent price reduction will also ensure that Nigerians pay between ₦860 and ₦865 per litre for petrol at the pump in Lagos,” the statement reads.
According to the company, the price slash is aimed at providing financial relief for Nigerians, particularly in celebration of the Ramadan season, while also aligning with President Bola Ahmed Tinubu’s economic recovery plan.
“This marks the second reduction of PMS prices in February 2025, following a previous decrease of ₦60 earlier in the month. Additionally, in December 2024, during the yuletide period, the refinery reduced the price of PMS by ₦70.50, from ₦970 to ₦899.50 per litre, as part of its commitment to easing the cost of living and providing relief to Nigerians during the holiday season,” the statement explained.
The company noted that previous reductions had impacted the economy positively, lowering costs across various sectors. It assured Nigerians of a steady supply of petroleum products through its key distributors—MRS Holdings, AP (Ardova Petroleum), and Heyden—at competitive rates.
Dangote Refinery also noted its commitment to maintaining sufficient reserves to meet local demand while boosting foreign exchange earnings through exports. It urged marketers to support the initiative and ensure Nigerians benefit fully from the price reduction.
- After Months of Waiting, NYSC Increases Corps Members’ Allowance to ₦77,000 - March 21, 2025
- World Happiness Report: Nigeria Slips to 105th, Libya Tops Africa - March 21, 2025
- Death Toll Rises to 10 in Karu Bridge Explosion - March 20, 2025