The Dangote Petroleum Refinery has officially announced a reduction in the ex-depot price of Premium Motor Spirit (PMS), widely known as petrol, lowering the price to ₦970 per litre for oil marketers. This move follows the company’s ongoing efforts to contribute positively to Nigeria's energy sector and to alleviate the financial burden on consumers across the nation.
In an official statement released on Sunday, the company’s Chief Branding and Communications Officer, Anthony Chiejina, explained that the price reduction is a gesture of appreciation to Nigerians for their continued support in realizing the refinery’s ambitious vision. Chiejina emphasized that this price adjustment signifies the company’s commitment to adding value to the Nigerian economy and ensuring that the benefits of the refinery’s operations are shared broadly with the public.
This adjustment represents a ₦20 reduction from the earlier ex-depot price of ₦990 per litre, which was implemented earlier this month. The price cut is expected to ease the financial burden on marketers, providing them with significant savings on each litre of petrol they source from the refinery in Lekki. With the price reduction, the refinery aims to encourage further growth in the domestic market and contribute to stabilizing fuel prices in the country.
Chiejina further stated that the price reduction aligns with the company’s commitment to supporting government efforts aimed at promoting domestic enterprises for the collective good of the nation. The statement highlighted the refinery’s continuous focus on delivering high-quality petroleum products that meet the highest environmental and sustainability standards.
The company also assured stakeholders of its dedication to increasing production levels to meet and exceed domestic fuel demand, addressing potential concerns over fuel supply shortages. With this move, Dangote Refinery seeks to play a critical role in Nigeria’s energy sector, ensuring steady fuel availability and supporting the nation's economic growth.
In conclusion, this price cut not only serves as a token of appreciation but also marks a significant milestone in the refinery's mission to enhance the affordability and accessibility of fuel in Nigeria. It is expected that the reduction will be welcomed by oil marketers and consumers alike, helping to stabilize the fuel market in the coming months.
