The Dangote Petroleum Refinery has officially announced a reduction in petrol prices, bringing the cost down from N890 to N825 per litre. This new price adjustment takes effect from 27th February 2025, offering some financial relief to consumers across Nigeria.
According to Dangote Petroleum Refinery, the decision to lower petrol prices is primarily influenced by two major factors. Firstly, the upcoming Ramadan season, which is a period of fasting and reflection for millions of Muslims, and the company’s commitment to making essential commodities more affordable during this time. Secondly, the price reduction aligns with President Bola Tinubu’s economic recovery policy, aiming to ease the financial burden on Nigerian citizens and improve overall economic stability.
It is important to note that this is the second time in February 2025 that Dangote Petroleum Refinery has reduced petrol prices. Earlier in the month, the refinery had announced a similar reduction in an effort to support economic growth and improve affordability for the general public.
Additionally, in December 2024, the refinery made a significant price cut, reducing the cost of PMS from N970 per litre to N899.50 per litre. This move was part of its ongoing commitment to alleviating the high cost of living and ensuring that Nigerians can access fuel at a more affordable rate.
Following this latest price reduction, the management of the refinery has provided a detailed breakdown of how petrol will be priced across different regions at partner retail outlets:
For MRS Holdings stations:
• N860 per litre in Lagos
• N870 per litre in the South-West
• N880 per litre in the North
• N890 per litre in the South-South and South-East
For AP (Ardova Petroleum) and Heyden stations:
• N865 per litre in Lagos
• N875 per litre in the South-West
• N885 per litre in the North
• N895 per litre in the South-South and South-East
This new price structure aims to bring relief to consumers and improve accessibility to fuel in different regions of the country. Many Nigerians have welcomed this price reduction, hoping that it will positively impact the cost of transportation and goods nationwide.