The Dangote Refinery has announced a reduction in the price of petrol from N890 per litre to N825 per litre, effective February 27. This move is designed to provide relief to Nigerians during the Ramadan season. This is the second price reduction by the company this month, having earlier reduced the price from N950 per litre to N890 per litre. The company attributed the price reduction to the positive outlook in the global energy and gas markets, as well as the recent decrease in international crude oil prices.
The refinery had also reduced the price of petrol by N70.50 during the yuletide period in December 2024, from N970 to N899.50 per litre. This move helped to ease the cost of living and provide relief to Nigerians during the holiday season. “Dangote Petroleum Refinery & Petrochemicals has slashed the price of Premium Motor Spirit (PMS), or petrol, for the second time this month. It has cut N65 off the previous price of N890, bringing it down to N825 per litre at the gantry (ex-depot). This follows a N60 reduction on 1 February.
“The ex-depot price has thus decreased from N950 per litre in January to the current price of N825 per litre, representing a reduction of N125 per litre within 26 days. This recent price reduction will also ensure that Nigerians pay between N860 and N865 per litre for petrol at the pump in Lagos,” the statement said.
It added that this strategic price adjustment is designed to provide essential relief to Nigerians in celebration of the Ramadan season, while also supporting President Bola Tinubu’s economic recovery policy by alleviating the financial burden on the Nigerian populace.
“It is important to note that Dangote Petroleum Refinery has consistently lowered the prices of petrol and other refined petroleum products to the benefit of Nigerians. This marks the second reduction of PMS prices in February 2025, following a previous decrease of N60 earlier in the month,” it said.
“Nigerians will be able to purchase high-quality Dangote petrol at the following prices across our partners’ retail outlets: For MRS Holdings stations, it will be sold 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 regions, respectively.
“The same product will also be available at the following prices in AP (Ardova Petroleum) and Heyden stations: 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,” it said.
The previous price reductions have had a positive impact on the overall cost of living, benefiting various sectors of the economy. The refinery’s efforts ensured that Nigerians did not experience the typical fuel scarcity and price hikes associated with the yuletide season.
The Dangote Refinery reiterated its commitment to making its high-quality products available nationwide at market-friendly rates. The company’s products are distributed through its key partners, including MRS Holdings, AP (Ardova Petroleum), and Heyden.
The refinery’s price reduction is expected to bring relief to Nigerians, especially during the Ramadan season. The company’s efforts to reduce the cost of petrol are seen as a positive step towards easing the economic burden on citizens.
Source : https://www.premiumtimesng.com/
