Dangote Petroleum Refinery has announced a significant reduction in the ex-depot price of Premium Motor Spirit (PMS), commonly known as petrol, slashing it by N65 per litre.
Effective from February 27, 2025, the price will drop from N890 to N825 per litre, marking a strategic move to provide economic relief to Nigerians ahead of the Ramadan season.
The Dangote refinery stated that this price adjustment aligns with President Bola Ahmed Tinubu’s economic recovery agenda, aimed at easing the financial burden on citizens.
This latest reduction follows a previous N60 per litre cut earlier in February, reinforcing Dangote Refinery’s commitment to stabilising fuel costs.
In December 2024, during the yuletide season, the refinery had also reduced petrol prices by N70.50, bringing the cost down from N970 to N899.50 per litre.
This intervention helped prevent the usual holiday-induced fuel scarcity and price hikes, positively impacting living costs and economic activities nationwide.
The Dangote refinery in a statement on Wednesday said with this latest adjustment, Dangote Petroleum Refinery has outlined the new pump prices across various retail outlets.
At MRS Holdings stations, petrol will be available at 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.
Similarly, at Ardova Petroleum (AP) and Heyden stations, the prices will be N865 per litre in Lagos, N875 per litre in the South-West, N885 per litre in the North, and N895 per litre in the South-South and South-East.
The company reassured Nigerians of a stable and sufficient supply of petrol, with reserves not only to meet domestic demand but also to generate foreign exchange earnings through exports.
It urged petroleum marketers to support this initiative, ensuring that the price cuts directly benefit consumers.