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Dangote Petroleum Refinery has announced a reduction in the ex-depot price of Premium Motor Spirit (PMS), commonly known as petrol, to N970 per litre from N990/litre.
This price cut will take effect immediately for oil marketers.
In a statement released by Anthony Chiejina, the group chief branding and communications officer of the Dangote Group, the price adjustment is described as part of the company’s end-of-year efforts to give back to the nation.
“This is our way of appreciating the good people of Nigeria for their unwavering support in making the refinery a dream come true,” the statement read.
Since its inauguration earlier in the year, the Dangote Refinery has been a critical player in Nigeria’s efforts to achieve self-sufficiency in petroleum refining.
The facility, touted as the largest single-train refinery in the world, has significantly bolstered domestic production capacity, reducing dependence on imported petrol.
Chiejina emphasised the refinery’s commitment to maintaining high-quality, environmentally friendly, and sustainable products.
“We assure you of best quality products that are environmentally friendly and sustainable,” he stated.
Read also: No more petrol imports until Dangote says no supply – NNPC
The statement also reassured Nigerians of the refinery’s ability to meet and exceed domestic fuel consumption needs, quelling fears of potential shortages.
“We are determined to keep ramping up production to meet and surpass our domestic fuel consumption; thus, dispelling any fear of a shortfall in supply,” Chiejina added.
The price reduction is expected to ripple effect on the Nigerian economy, particularly in alleviating the financial burden on consumers amid rising inflation.
Dipo Oladehinde is a skilled energy analyst with experience across Nigeria's energy sector alongside relevant know-how about Nigeria’s macro economy. He provides a blend of market intelligence, financial analysis, industry insight, micro and macro-level analysis of a wide range of local and international issues as well as informed technical rudiments for policy-making and private directions.
