Dangote Petroleum Refinery has announced a price cut for Premium Motor Spirit (PMS), also known as petrol, reducing the ex-depot (gantry) price from N890 to N825 per litre.
This new price will take effect on February 27, 2025.
According to Dangote, this price reduction is aimed at providing relief to Nigerians ahead of the upcoming Ramadan season. It is also in support of President Bola Ahmed Tinubu’s economic recovery efforts, which aim to ease the financial pressure on the Nigerian people. …CONTINUE READING
According to Daily Trust, it was reported that this marks the second reduction of petrol prices in February 2025. The first was a N60.00 decrease earlier in the month. In December 2024, during the holiday season, Dangote also lowered the price of petrol by N70.50, from N970 to N899.50 per litre, to help reduce the cost of living and offer relief to Nigerians.
With this latest price cut, Dangote said that Nigerians will be able to buy petrol at the new prices at all of the refinery’s partner retail outlets.
The statement reads, “For MRS Holdings stations, it will sell for N860 per litre in Lagos, N870 per litre in the South-West, N880 per litre in the North, and N890 per litre in the South-South and South-East respectively.”
“The same product will also be available at the following prices in AP (Ardova Petroleum) and Heyden stations: N865 per litre in Lagos, N875 per litre in the South-West, N885 per litre in the North, and N895 per litre in the South-South and South-East.”
The company has assured the public that there will be a steady supply of petroleum products, with enough reserves to meet local demand and even a surplus for export, which will help boost the country’s foreign exchange earnings.
It also urged marketers to support this initiative, ensuring that Nigerians continue to be the main beneficiaries of these efforts.
