Dangote Petroleum Refinery has announced a ₦65 reduction in the price of its Premium Motor Spirit (PMS), popularly called petrol, from ₦890 to ₦825 per litre, beginning from Thursday, February 27, 2025.
Recall that the refinery had announced a ₦60 drop earlier this month.
The refinery disclosed the reduction in a statement signed by its management on Wednesday, noting that the ‘strategic price adjustment’ is designed to provide essential relief to Nigerians in anticipation of the upcoming Ramadan season.
It affirmed President Bola Ahmed Tinubu’s economic recovery policy, stating that it is alleviating the financial burden on the Nigerian populace.
The statement partly reads: “It is important to note that Dangote Petroleum Refinery has consistently lowered the prices of petrol and other refined petroleum products to the benefit of Nigerians. This marks the second price reduction of PMS in February 2025, following a previous decrease of N60.00 earlier in the month.
“Additionally, in December 2024, during the yuletide period, the refinery reduced the price of PMS by N70.50, from N970 to N899.50 per litre, as part of its commitment to easing the cost of living and providing relief to Nigerians during the holiday season.
“This reduction has positively impacted the overall cost of living, benefiting various sectors of the economy, and has also ensured that Nigerians did not experience the perennial fuel scarcity and price hikes typically associated with the yuletide season.”
The refinery highlighted its partners’ retail outlets where Nigerians can purchase its “high-quality petrol” at various prices.
“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,” it said.
The company assured the public of a consistent supply of petroleum products, with sufficient reserves to meet domestic demand, and a surplus for export to enhance the country’s foreign exchange earnings.
It called on marketers to support the initiative, thereby ensuring that Nigerians remain the primary beneficiaries of the effort.
“This collective action will contribute to the broader economic recovery plan led by His Excellency, President Bola Ahmed Tinubu, who is committed to making Nigeria self-sufficient in refined petroleum products and establishing the country as a leading oil export hub,” the statement added.
