The management of Dangote Petroleum Refinery has announced a reduction in the ex-depot price of Premium Motor Spirit (PMS), commonly known as petrol, from ₦890 to ₦825 per litre, effective from February 27, 2025.
This ₦65 reduction was confirmed in a statement issued by the refinery on Wednesday.
Under the new pricing arrangement, customers in Lagos will be able to purchase petrol at ₦860 per litre at MRS outlets.
“For MRS Holdings stations, the new prices are ₦860 per litre in Lagos, ₦870 per litre in the South-West, ₦880 per litre in the North, and ₦890 per litre in the South-South and South-East,” the management explained.
In addition, petrol will be available at the following prices at AP (Ardova Petroleum) and Heyden stations: ₦865 per litre in Lagos, ₦875 per litre in the South-West, ₦885 per litre in the North, and ₦895 per litre in the South-South and South-East.
The company reassured the public of a steady supply of petroleum products, with sufficient reserves to meet domestic demand and surplus stocks for export, which will contribute to boosting Nigeria’s foreign exchange earnings.
Dangote Petroleum Refinery called on marketers to support this initiative, ensuring that Nigerians remain the primary beneficiaries of the price reduction.
The refinery stated that this price adjustment is aimed at providing relief to Nigerians ahead of the upcoming Ramadan season, as well as supporting President Bola Ahmed Tinubu’s economic recovery policies by easing the financial burden on citizens.
Africa’s richest man, Aliko Dangote, has frequently reduced the prices of petrol and other refined petroleum products. This latest adjustment marks the second PMS price cut in February 2025, following a previous ₦60 reduction earlier in the month.
In December 2024, the refinery also slashed the price of PMS by ₦70.50, from ₦970 to ₦899.50 per litre, as part of its commitment to easing the cost of living and providing relief to Nigerians during the holiday season.
