In a significant move to ease economic burdens on Nigerians, Dangote Petroleum Refinery has announced a reduction in the ex-depot price of Premium Motor Spirit (PMS), commonly known as petrol, from N950 to N890 per litre starting Saturday.
According to a statement from Anthony Chiejina, Group Chief Branding and Communications Officer of Dangote Refinery, the price cut was influenced by favorable global energy market trends and a notable drop in international crude oil prices.
This adjustment follows a previous price increase on January 19, which was attributed to rising crude oil costs. With the latest global decline, the refinery has decided to pass on the benefits to Nigerians.
“Dangote Petroleum Refinery firmly believes that this reduction will lead to a meaningful decrease in the cost of petrol nationwide, thereby driving down the prices of goods and services, as well as the overall cost of living,” the statement read.
The refinery also urged marketers across the country to ensure that the price reduction directly benefits consumers. Additionally, it reaffirmed its support for the economic recovery agenda of President Bola Tinubu, which focuses on making Nigeria self-sufficient in refined petroleum products and positioning the country as a leading oil export hub.
