In a move set to ease the financial burden on Nigerians, Dangote Petroleum Refinery has announced a significant reduction in the ex-depot price of Premium Motor Spirit (PMS), commonly known as petrol. The price has been slashed from N950 to N890 per litre, effective Saturday, February 1, 2025.
The announcement was made via the refinery’s official channels, with Anthony Chiejina, Group Chief Branding and Communications Officer, stating that the price adjustment aligns with positive trends in the global energy market and the recent dip in international crude oil prices.
“As part of Dangote Refinery’s unwavering commitment to transparency and fairness, this price revision reflects the ongoing fluctuations in global crude oil markets. On January 19, a modest increase was implemented due to rising crude prices, but with the market now stabilizing, we are pleased to extend this reduction to Nigerians,” Chiejina stated.
He emphasized that the price cut would have far-reaching economic benefits, helping to reduce the cost of petrol nationwide, lower transportation expenses, and drive down the prices of goods and services.
Beyond economic relief, the refinery is urging petroleum marketers to fully comply with the new pricing to ensure that consumers feel the impact of this reduction. Dangote Refinery also reaffirmed its support for President Bola Ahmed Tinubu’s economic recovery strategy, aimed at making Nigeria self-sufficient in refined petroleum products and transforming the country into a leading oil export hub.
With Nigerians grappling with economic challenges and inflationary pressures, this petrol price cut comes as a welcome relief, raising hopes of broader price stability across key sectors.
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