Dangote Petroleum Refinery has announced a reduction in the ex-depot price of Premium Motor Spirit (PMS), also known as petrol, by N65 per litre.
In a statement issued on Wednesday, the refinery said the price adjustment, which takes effect from Feb. 27, 2025, will see the ex-depot price drop from N890 to N825 per litre.
The company said the move was aimed at providing relief to Nigerians ahead of the Ramadan season and supporting President Bola Tinubu’s economic recovery policies.
“This strategic price adjustment is part of our commitment to easing the financial burden on Nigerians,” the statement said.
According to the refinery, this is the second price reduction in February 2025, following an earlier cut of N60 per litre.
It added that in December 2024, the refinery reduced the price of PMS by N70.50 per litre during the yuletide season to cushion the impact of rising living costs.
The company said the latest reduction would reflect in retail prices across partner outlets, with petrol selling at:
MRS Holdings stations: N860 per litre in Lagos, N870 in the South-West, N880 in the North, and N890 in the South-South and South-East.
AP (Ardova Petroleum) and Heyden stations: N865 per litre in Lagos, N875 in the South-West, N885 in the North, and N895 in the South-South and South-East.
Dangote Petroleum Refinery assured Nigerians of a steady supply of fuel, saying it had sufficient reserves to meet local demand while also exporting surplus products.
The company urged marketers to align with the new pricing structure to ensure that consumers benefit from the reduction.
It added that the initiative was in line with the government’s efforts to make Nigeria self-sufficient in refined petroleum products and a major player in the global oil market.
