JUST IN: Dangote reduces Petrol price to N825 per litre

The Dangote Petroleum Refinery has announced a reduction in the ex-depot price of Premium Motor Spirit (PMS), bringing it down to N825 per litre from the previous N835

This latest cut is part of a series of strategic price reductions aimed at easing the financial burden on Nigerians and promoting market competition. In February, the refinery had dropped the price from N950 to N890 per litre, before further lowering it to N825.

The move is expected to impact pump prices across the country, with current retail prices ranging between N860 and N865 per litre in Lagos and varying in other regions. Analysts believe Dangote’s pricing strategy is intensifying competition in the downstream oil sector, prompting other suppliers, including the Nigerian National Petroleum Company (NNPC), to adjust their rates accordingly.

The 650,000 barrels-per-day refinery is positioning itself as a key player in stabilizing Nigeria’s fuel market, especially following the removal of the fuel subsidy. The consistent price reductions reflect Dangote’s broader commitment to offering affordable energy and supporting national economic recovery efforts.

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