The Dangote petroleum refinery and petrochemicals ahas again reduced the price of petrol, this is the second time in a month, c
utting N65 off the previous price of N890 and bringing it down to N825 per litre at the gantry.
With an earlier N60 reduction on February 1, it means that the ex-depot price has thus decreased from N950 per litre in January to the current price of N825 per litre, representing a reduction of N125 per litre within 26 days.
The price reduction will also ensure that Nigerians pay between N860 and N865 per litre for petrol at the pump in Lagos, a statement by the management of the refinery stated.
Additionally, in December 2024, during the yuletide period, the refinery reduced the price of PMS by N70.50, from N970 to N899.50 per litre, as part of its commitment to easing the cost of living and providing relief to Nigerians during the holiday season,” the statement added.
The refinery highlighted that previous reductions had positively impacted the overall cost of living, benefiting various sectors of the economy. It said that they also helped ensure that Nigerians did not experience the typical fuel scarcity and price hikes associated with the yuletide season.
Dangote reiterated that its high-quality products, which have become a favourite in both domestic and international markets, will remain available nationwide, particularly through its key partners—MRS Holdings, AP (Ardova Petroleum), and Heyden—at market-friendly rates.
“Nigerians will be able to purchase high-quality Dangote petrol at the following prices across our partners’ retail outlets: For MRS Holdings stations, it will be sold 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 regions, respectively.
Dangote Petroleum Refinery assured the public of a consistent supply of petroleum products, with sufficient reserves to meet domestic demand and a surplus for export, thereby boosting the country’s foreign exchange earnings.
The refinery called on marketers to support the initiative, ensuring that Nigerians remain the primary beneficiaries of this effort.
“This collective action will contribute to the broader economic recovery plan led by His Excellency, President Bola Ahmed Tinubu, who is committed to making Nigeria self-sufficient in refined petroleum products and positioning the country as a leading oil export hub,” it concluded.