Relief for Nigerians as Dangote Refinery Slashes Petrol Price

The Dangote Petroleum Refinery has announced a reduction in the ex-depot price of Premium Motor Spirit (PMS), commonly known as petrol, by ₦50 per litre, lowering the price from ₦1,175 to ₦1,125 per litre.....KINDLY READ THE FULL STORY HERE▶

In a notice issued to customers on Thursday, the company said the downward review was driven by a decline in global energy prices following the easing of geopolitical tensions in the Middle East, which has impacted crude oil and refined petroleum product prices on the international market.

According to the refinery, the gantry loading price has also been adjusted downward from ₦1,175 per litre to ₦1,125 per litre.

Similarly, the coastal supply price was reduced from ₦1,495,215 per metric tonne to ₦1,428,165 per metric tonne, reflecting the broader changes in global market conditions.

The latest price adjustment comes shortly after the refinery dismissed allegations that its petroleum products are exported to Lomé, Togo, and later re-imported into Nigeria.

The company described the claims as unfounded and lacking commercial logic, insisting that such assertions do not reflect its operations.

While noting that it generally avoids responding to unverified allegations, the refinery said it considered it necessary to address what it termed a deliberate spread of misinformation.

“As a matter of policy, we do not respond to baseless and unsubstantiated claims, given our commitment to ensuring energy security in Nigeria and across Africa,” the company stated.

“However, we have chosen to clarify these issues and correct what we regard as a web of falsehoods for the sake of public record and transparency.”

The refinery reaffirmed its commitment to supporting Nigeria’s energy needs and contributing to the continent’s long-term energy security objectives.