Relief At The Pump: Dangote Refinery Drops Petrol Price Details

Dangote Petroleum Refinery announced on Saturday a reduction in the ex-depot price of Premium Motor Spirit (PMS), popularly known as petrol, from ₦950 to ₦890.....KINDLY READ THE FULL STORY HERE▶

In an official statement, the refinery attributed the price adjustment to positive shifts in the global energy market, particularly the recent decline in international crude oil prices.

“The decision reflects Dangote Refinery’s commitment to staying aligned with market realities and ensuring that consumers benefit from fluctuations in global crude oil prices,” stated Anthony Chiejina, Group Chief Branding and Communications Officer.

Chiejina noted that this price cut follows a previous adjustment made on January 19, when the refinery increased prices due to rising crude oil costs. However, with the current downward trend in global markets, Dangote Refinery has revised its pricing structure to ease the financial burden on Nigerians.

“This latest reduction will significantly lower the cost of petrol across the country, creating a positive ripple effect on the broader economy,” the statement read.

Dangote Refinery urged fuel marketers nationwide to pass the benefits of the price cut directly to consumers. The company also reiterated its support for President Bola Ahmed Tinubu’s economic recovery efforts, which aim to make Nigeria self-sufficient in refined petroleum products and establish the country as a key oil export hub.

“This initiative aligns with President Tinubu’s vision of economic revival, self-sufficiency in refined products, and positioning Nigeria as a leading force in the global oil market,” the statement concluded.