Dangote Petroleum Refinery has reduced the price of its Premium Motor Spirit (PMS) product to below N900 per litre to provide much-needed relief for Nigerians ahead of the holiday season.
This is the second time in a month that Africa’s first privately owned oil refinery has made such a move.
The refinery had previously lowered the price to N970 per litre on November 24.
With a capacity of 650,000 barrels per day (BPD) at optimal production, the Dangote Refinery is capable of meeting 100 percent of Nigeria’s refined petroleum product requirements while sustaining exports to other African nations.
According to a statement, the Dangote Refinery announced a new price of N899.50 per litre.
“This reduction is designed to ease transport costs during the festive period,” said the Group Chief Branding and Communications Officer of Dangote Group, Mr. Anthony Chiejina, in a statement issued on Thursday.
The company will also allow consumers to purchase an additional litre of fuel on credit for every litre bought on a cash basis.
“To alleviate transport costs during this holiday season, Dangote Refinery is offering a holiday discount on PMS. Starting today, our petrol will be available at N899.50 per litre at our truck loading gantry or SPM. Furthermore, for every litre purchased on a cash basis, consumers will have the opportunity to buy another litre on credit, backed by a bank guarantee from Access Bank, First Bank, or Zenith Bank,” said Mr. Chiejina.
The company also expressed its gratitude to Nigerians for their continued support as the country enters the festive season.
Mr. Chiejina further emphasised the refinery’s commitment to ensuring Nigerians have access to premium-quality petroleum products that are competitively priced, as well as environmentally and engine-friendly.
He highlighted that the refinery’s operations signal the end of Nigeria being a dumping ground for substandard and ‘blended’ imported products, which have posed significant risks to human health, machinery, and the environment.