By LEVI JOHNSON

Dangote Petroleum Refinery Reduces Petrol Prices to Ease Economic Pressure

The Dangote Petroleum Refinery & Petrochemicals has reaffirmed its commitment to price stability and economic relief by consistently reducing the price of Premium Motor Spirit (PMS), commonly referred to as petrol, despite ongoing volatility in global crude oil markets.

This development was disclosed in a statement issued by Anthony Chiejina, Group Chief Branding and Communications Officer of the Dangote Group. He emphasized that the company’s sustained effort to keep petrol prices low reflects its unwavering dedication to supporting the Nigerian economy and consumers.

Commitment to Economic Relief and National Development

According to Chiejina, the Dangote Refinery’s decision aligns with its corporate vision of providing affordable, high-quality petroleum products while ensuring operational efficiency and sustainability. He explained that the price reductions were not a result of market compulsion but a deliberate strategy to lessen the economic burden on Nigerians.

“Our approach aligns with the objectives of the Federal Government’s Nigeria First policy, which encourages the prioritisation of domestically produced goods and services,” the statement read.

• Dangote Intensifies Support for MSMEs in Nigeria
• https://crediblenews.com.ng/dangote-refinery-reduces-petrol-price-to-n825/

The company said it remains focused on delivering affordable fuel as part of its national duty and as a strategic response to the increasing cost of energy for Nigerian households and businesses.

Backed by Nigeria’s Naira-for-Crude Initiative

Dangote further credited the Naira-for-Crude Initiative, introduced by President Bola Tinubu’s administration, for making these consistent price reductions possible.

“We are immensely grateful to His Excellency, President Bola Tinubu, for making this possible through the commendable Naira-for-Crude Initiative, which has enabled us to reduce the price of petroleum products consistently for the benefit of all Nigerians,” Chiejina said.

The initiative allows local refineries to source crude oil in naira instead of foreign exchange, thereby removing one of the major cost drivers in fuel production and enhancing domestic energy affordability.

Boosting Nigeria’s Energy Security and Foreign Exchange Reserves

By refining products locally at what is considered the world’s largest single-train refinery, Dangote Petroleum Refinery has significantly reduced Nigeria’s dependence on imported fuel. This achievement is not only easing pressure on the local economy but also conserving valuable foreign exchange.

The company asserts that its operations contribute directly to national energy security, economic resilience, and the realization of President Tinubu’s Renewed Hope Agenda, which seeks to stabilize the economy and uplift the well-being of Nigerians.

Assurance to Stakeholders

Dangote Petroleum Refinery has assured all stakeholders—including consumers, industry partners, and government institutions—of its continued dedication to national service.

“We will continue to prioritise affordability, product quality, and national interest in every aspect of our operations,” the company said.

Furthermore, the refinery reiterated its mission to translate local refining capacity into tangible benefits for Nigerians, including price relief, job creation, and infrastructure development.

Alignment with Government’s Economic Strategy

Dangote’s consistent fuel price reduction strategy is seen as complementary to ongoing government reforms in the energy and trade sectors. Analysts believe that encouraging private-sector involvement in domestic refining will play a crucial role in insulating Nigeria from external shocks in the global oil market.

By maintaining steady operations and reducing prices at a time when international oil benchmarks are fluctuating, Dangote has shown that strategic investments in local capacity can provide a buffer against economic instability.

Looking Ahead

As Nigeria continues its journey toward energy self-sufficiency, Dangote Petroleum Refinery remains a central player in the country’s evolving fuel landscape. The company has pledged to sustain its current trajectory, working collaboratively with government and industry stakeholders to deliver even more value to the Nigerian people.

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