The Dangote Petroleum Refinery has announced a price reduction for Premium Motor Spirit (PMS), commonly known as petrol, bringing the cost down to ₦970 per litre for oil marketers.
The announcement, made on Sunday by the company’s Chief Branding and Communications Officer, Anthony Chiejina, is seen as a gesture of appreciation to Nigerians for their continued support in making the refinery a reality.
This new price represents a ₦20 decrease from the refinery’s earlier ex-depot price of ₦990, which was set earlier this month. The statement emphasized that this move also serves as a thank you to the Nigerian government for its backing, and is aimed at further strengthening domestic enterprise and contributing to national development.
Dangote Refinery Reduces PMS Price To N970 pic.twitter.com/tKx0knKzW5
— Dangote Group (@DangoteGroup) November 24, 2024
“The decision to reduce prices reflects our commitment to improving access to affordable fuel while maintaining the highest product quality standards,” Chiejina said. “We assure our partners and consumers that the quality of our petrol remains uncompromised—environmentally friendly and sustainable.”
The refinery reiterated its dedication to increasing production capacity to meet and exceed local fuel consumption needs, addressing any concerns about potential supply shortages. The price reduction is expected to save marketers approximately ₦20 per litre of petrol purchased from the refinery’s Lekki facility.
