Dangote Petroleum Refinery has announced a reduction in the ex-depot price of Premium Motor Spirit (PMS), commonly known as petrol, from N950 to N890 per litre, effective Saturday, February 1, 2025.
In a statement released by the company’s Group Chief Branding and Communications Officer, Anthony Chiejina, the price adjustment follows recent declines in international crude oil prices and a more favorable global energy outlook.
The refinery emphasized its commitment to transparency and fairness, stating that the latest price cut aligns with market realities. This follows a modest increase announced on January 19, when global crude oil prices were on the rise.
The company expressed optimism that the price reduction would ease the cost of petrol nationwide, leading to lower transportation costs, reduced prices of goods and services, and an overall decline in the cost of living.
Furthermore, Dangote Refinery urged petroleum marketers to ensure that the benefits of the reduction reach consumers.
The company noted that this effort aligns with President Bola Ahmed Tinubu’s economic recovery plan, which aims to make Nigeria self-sufficient in refined petroleum products and establish the country as a leading oil export hub.
