Dangote Refinery Slashes Petrol Price to N890/ltr
…Calls for Marketers to Pass on Savings
By Patience Ikpeme
Dangote Petroleum Refinery has announced a reduction in the ex-depot price of Premium Motor Spirit (PMS), commonly known as petrol. Effective from Saturday, February 1st, 2025, the price will be lowered from N950 to N890 per liter. This is to bring some relief to Nigerians.
This price adjustment, according to a statement by the Group Chief Branding and Communications Officer, Anthony Chiejina, reflects the recent decline in international crude oil prices. “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,” the statement said.
Chiejina explained that the company had previously increased the ex-depot price in January due to rising global crude oil prices. However, with the recent decline in oil prices, the refinery has adjusted its pricing accordingly.
Dangote Refinery expressed confidence that this price reduction will translate into lower petrol prices at the pumps nationwide, ultimately leading to a decrease in the cost of goods and services and improving the overall cost of living. The company urged petrol marketers to collaborate and ensure that the benefits of this price reduction are passed on to consumers.
This move aligns with the economic recovery plan of President Bola Ahmed Tinubu, which aims to make Nigeria self-sufficient in refined petroleum products and establish the country as a leading oil export hub.
