In a move aimed at easing the financial burden on Nigerians, the Dangote Petroleum Refinery has reduced the ex-depot price of Premium Motor Spirit (PMS) from N890 to N825 per litre
An official of the $20 billion refinery confirmed the price adjustment in a statement on Thursday, noting that marketers and distributors have been informed of the new rate.
This marks the second reduction in February, following an earlier N60 cut. The refinery had also slashed prices during the 2024 yuletide season, lowering the cost from N970 to N899.50 per litre.
According to the management, the latest move is part of efforts to support President Bola Tinubu’s economic recovery initiatives and provide relief ahead of Ramadan.
The refinery assured that it has adequate petrol stock to meet local demand while also boosting foreign exchange earnings through exports. Marketers have been urged to reflect the new pricing so consumers can benefit directly.
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