Dangote Refinery Cuts Petrol Price Again, Reducing PMS Cost to N825 Per Litre
By DAYO ADESULU
Dangote Petroleum Refinery & Petrochemicals has once again reduced the price of Premium Motor Spirit (PMS), commonly known as petrol, cutting N65 off the previous rate of N890 per litre. The new ex-depot price now stands at N825 per litre, a move aimed at providing relief to consumers and supporting Nigeria’s economic recovery efforts.
This latest reduction follows a N60 price slash earlier in February, bringing the cumulative price decrease to N125 per litre within 26 days. In January, the ex-depot price stood at N950 per litre before the refinery initiated these consecutive cuts.
Petrol Pump Price Adjustments Across Nigeria
With this new price adjustment, Nigerians in Lagos can now expect to buy petrol at the pump for between N860 and N865 per litre. Consumers in other regions will also benefit from revised pump prices at retail stations affiliated with MRS Holdings, AP (Ardova Petroleum), and Heyden.
- Lagos: N860 – N865 per litre
- South-West: N870 – N875 per litre
- North: N880 – N885 per litre
- South-South & South-East: N890 – N895 per litre
Strategic Price Cut in Line with Ramadan and Economic Policies
A statement released by Dangote Petroleum Refinery highlighted that the latest price reduction is a strategic effort to provide economic relief, particularly in celebration of the Ramadan season, while aligning with President Bola Ahmed Tinubu’s economic recovery policy.
“This strategic price adjustment is designed to provide essential relief to Nigerians in celebration of the Ramadan season while also supporting President Tinubu’s economic policies to alleviate financial strain on the populace,” the statement read.
This marks the second price slash in February 2025, reinforcing Dangote Refinery’s commitment to easing the cost of living. In December 2024, the company similarly reduced the price of petrol by N70.50 per litre during the festive season, dropping the price from N970 to N899.50 per litre.
Dangote Refinery’s Impact on Fuel Prices and Market Stability
The continuous price reductions by Dangote Petroleum Refinery have played a crucial role in stabilizing fuel costs and ensuring supply security in Nigeria. Unlike previous years when fuel scarcity and price hikes were common during festive seasons, these adjustments have contributed to a more stable market.
- Dangote Refinery
- Dangote Refinery Cuts Petrol Price Again, Reducing PMS Cost to N825 Per Litre – The Cheer News
According to the statement, Dangote Refinery remains committed to ensuring the availability of high-quality petroleum products at competitive prices, making it the preferred choice for domestic and international buyers.
“Our high-quality petrol is available nationwide through our key retail partners. We have adequate reserves to meet domestic demand while maintaining surplus capacity for export, contributing to Nigeria’s foreign exchange earnings,” Dangote Petroleum Refinery assured.
Boosting Nigeria’s Oil Industry and Economic Growth
The refinery emphasized that this reduction aligns with Nigeria’s long-term economic goals, particularly in ensuring self-sufficiency in refined petroleum products. The 650,000 barrels per day refinery has already surpassed Nigeria’s daily petrol demand of 385,000 barrels, reinforcing the country’s position as a potential oil export hub.
“We encourage marketers to support this initiative and pass on the benefits to end consumers. This collective effort will contribute to Nigeria’s broader economic recovery strategy, ensuring affordability and accessibility of petroleum products,” the statement concluded.
Dangote Refinery’s Expanding Global Reach
Dangote Petroleum Refinery has gained international recognition, having exported products to Europe, America, and Asia. Recently, the refinery made headlines for supplying jet fuel to Saudi Arabia, further cementing its global presence in the energy sector.
The company also confirmed that it currently holds over 500 million litres of petrol in storage, enough to meet Nigeria’s domestic demand for an extended period.
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By Dayo Adesulu, SEO Expert.
