Dangote Refinery Cuts Petrol Price By N65 Ahead Of Ramadan 

Dangote Petroleum Refinery has announced a reduction in the ex-depot price of Premium Motor Spirit (PMS), commonly known as petrol, from N890 to N825 per litre. This new pricing will take effect on February 27, 2025, marking the refinery’s second price cut this month.

Earlier in the month, on February 1, the refinery had already reduced the gantry price of petrol by N60. The latest N65 price cut is part of a strategic effort to provide economic relief to Nigerians, particularly as the Ramadan season approaches.

In a statement released on Wednesday, the refinery explained that the price adjustment is designed to lower transportation costs and alleviate financial pressures on households and businesses. This move is expected to positively impact the cost of living and economic activities across the country.

The refinery also highlighted that the price reduction demonstrates its support for President Bola Tinubu’s ongoing economic reforms. By making petrol more affordable, Dangote Refinery aims to contribute to the government’s efforts to stabilise the economy and improve the welfare of Nigerians.

“This strategic price adjustment is designed to provide essential relief to Nigerians in anticipation of the upcoming Ramadan season, while also supporting President Bola Ahmed Tinubu’s economic recovery policy by alleviating the financial burden on the Nigerian populace,” the statement noted. 

Meanwhile, the statement stated that pump prices will vary in its partner retail outlets across the country.

• In Lagos, MRS Holdings stations will sell the product at N860 per litre while AP (Ardova Petroleum) and Heyden stations will retail it at N865
• in the South-West, MRS will sell at N870, while AP (Ardova Petroleum) and Heyden stations will sell at N875
• in the North, it will sell at N880 in MRS stations, and N885 at AP (Ardova Petroleum) and Heyden stations
• At MRS stations, it will sell at N890 in the South-South and South-East, while AP (Ardova Petroleum) and Heyden stations will sell at N895 in the same regions.

Dangote Petroleum Refinery assured the public of a steady fuel supply, stating that it has sufficient reserves to meet local demand while maintaining surplus export capacity to boost Nigeria’s foreign exchange earnings.

The company urged petroleum marketers to support the price reduction initiative, emphasizing the importance of ensuring consumers fully benefit from the adjustment.

“This collective action will contribute to the broader economic recovery plan led by His Excellency, President Bola Ahmed Tinubu, who is committed to making Nigeria self-sufficient in refined petroleum products and establishing the country as a leading oil export hub,” it stated.