Dangote Refinery Slashes Petrol Price to N825 Per Litre, Easing Nigerians’ Burden
Dangote Petroleum Refinery & Petrochemicals has announced a significant reduction in the price of Premium Motor Spirit (PMS), commonly known as petrol, cutting the ex-depot price by N65 to N825 per litre. This marks the second price cut within the month, following a N60 reduction on February 1, 2025.
The cumulative reduction of N125 from the January price of N950 per litre is part of the company’s strategic move to alleviate the financial burden on Nigerians, especially during the Ramadan season. The new price takes effect from Thursday, February 27, 2025.
In a statement, the refinery emphasized its commitment to supporting President Bola Ahmed Tinubu’s economic recovery agenda by providing essential relief to the populace. The company had previously lowered PMS prices during the December 2024 yuletide period, demonstrating its dedication to cushioning the impact of rising living costs.
“This strategic price adjustment is designed to provide essential relief to Nigerians in celebration of the Ramadan season while supporting President Bola Ahmed Tinubu’s economic recovery policy,” the statement read.
With this price adjustment, consumers in Lagos will pay between N860 and N865 per litre at retail outlets. The refinery’s products will be available at market-friendly rates through key partners, including MRS Holdings, AP (Ardova Petroleum), and Heyden. Prices across these outlets will range from N860 per litre in Lagos to N895 per litre in the South-South and South-East regions.
Dangote Petroleum Refinery assured Nigerians of a consistent supply of petroleum products, with over 500 million litres of petrol in storage—sufficient to meet domestic demand and maintain surplus capacity for export. The refinery’s 650,000 barrel per day refining capacity surpasses Nigeria’s daily petrol consumption of 385,000 barrels, further positioning the country as a major player in the global petroleum market.
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The company called on marketers to align with its price adjustment initiative, ensuring that Nigerians benefit directly from the reduction. This collaborative effort is expected to bolster the nation’s economic recovery and reinforce Nigeria’s self-sufficiency in refined petroleum products.
Dangote Petroleum Refinery has not only impacted the local economy but also expanded its footprint globally, with recent exports of jet fuel to Saudi Arabia and products reaching Europe, America, and Asia.
