Dangote Refinery Slashes Petrol Price Again to N825/ltr
By Patience Ikpeme
Dangote Petroleum Refinery & Petrochemicals has reduced the price of Premium Motor Spirit (PMS), commonly known as petrol, for the second time this month.
The ex-depot price has been cut by N65, bringing it down to N825 per litre, effective from Thursday, February 27, 2025. This latest reduction follows a previous N60 cut on February 1.
In total, Dangote Refinery has lowered petrol prices by N125 per litre within the last 26 days, down from N950 per litre in January. As a result, petrol prices at filling stations in Lagos are expected to range between N860 and N865 per litre, offering some financial relief to Nigerians.
In a statement, Dangote Refinery explained that the price adjustment was made in recognition of the Ramadan season and as part of efforts to support President Bola Ahmed Tinubu’s economic recovery policy.
The company emphasized its commitment to making fuel more affordable, highlighting past reductions in December 2024, when the price of petrol was lowered by N70.50 to ease the burden on Nigerians during the holiday season.
Dangote Refinery reassured the public that its high-quality petrol will be available across the country, particularly through its key retail partners—MRS Holdings, AP (Ardova Petroleum), and Heyden—at competitive prices. At MRS stations, petrol 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. At 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 refinery assured Nigerians of a steady supply of fuel, stating that it has over 500 million litres of petrol in storage, enough to meet the country’s demand for several days. The 650,000 barrels per day refinery currently exceeds Nigeria’s average daily requirement of 385,000 barrels, ensuring both domestic supply and export capacity. The statement also called on petroleum marketers to support this initiative by ensuring that consumers fully benefit from the price reduction.
“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,” Dangote Refinery stated.
The company, which has successfully exported its refined products to Europe, America, Asia, and the Middle East, recently supplied jet fuel to Saudi Arabia. With its consistent price reductions and commitment to fuel availability, Dangote Refinery continues to play a key role in reducing the cost of living and supporting Nigeria’s economic growth.
