Dangote Petroleum Refinery has announced a reduction in the ex-depot (gantry) price of Premium Motor Spirit (PMS), commonly known as petrol, by N65 per litre from N890 to N825 per litre.
The new price adjustment takes effect from February 27, 2025.
The refinery’s management explained that the decision was driven by a commitment to alleviating economic pressure on Nigerians, particularly during Ramadan, while aligning with President Bola Ahmed Tinubu’s economic recovery policies.
The latest price cut marks the second reduction in February, following an earlier N60 per litre decrease earlier in the month. In December 2024, Dangote Refinery also reduced PMS prices by N70.50 per litre to ease financial burdens during the holiday season.
In a statement, Dangote Petroleum Refinery reaffirmed its commitment to ensuring a stable supply of petroleum products, stating that it has sufficient reserves to meet domestic demand while also maintaining surplus capacity for export.
New Petrol Prices Across Retail Outlets
With the new price structure, petrol from Dangote Refinery will now be sold at:
The company urged petroleum marketers to support the initiative, ensuring that the benefits of the price reduction are passed on to consumers nationwide.
While the latest adjustment provides much-needed relief, industry analysts continue to monitor its impact on the broader energy market and inflation trends.
