Again, Dangote Refinery Slashes Petrol Price By N65 | Details
For the second time in February, Dangote Petroleum Refinery has reduced the ex-depot price of premium motor spirit (petrol), cutting it from N890 to N825 per litre.
This N65 per litre reduction follows an earlier N60 per litre decrease on February 1, Vanguard reports.
A statement from the refinery, which has a 650,000 barrels-per-day capacity, noted that the ex-depot price has now dropped from N950 per litre in January to N825 per litre, marking a total reduction of N125 per litre within 26 days.
“This recent price reduction will ensure that Nigerians pay between N860 and N865 per litre for petrol at the pump in Lagos,”
the company stated.
The refinery, Africa’s first privately owned petroleum processing plant, announced that the new pricing takes effect from Thursday, February 27, and aims to provide economic relief to Nigerians.
“This strategic price adjustment is intended to ease the financial burden on Nigerians, particularly in anticipation of the Ramadan season, while also supporting President Bola Ahmed Tinubu’s economic recovery initiatives,”
the statement read.
The statement added that buyers in Lagos would purchase fuel at N860 per litre at MRS outlets under the new arrangement.
“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.”
READ ALSO: ‘Buy Petrol N1000/litre Or CNG At N200’ – President Bola Tinubu To Nigerians | Details
The company emphasized that Dangote Petroleum Refinery has consistently lowered petrol and other refined product prices to benefit Nigerians.
The latest cut follows a previous reduction of N60 earlier in February. Additionally, in December 2024, during the festive season, the refinery dropped the price of PMS by N70.50—from N970 to N899.50 per litre—to help ease the cost of living.
The refinery highlighted that past price reductions have positively impacted various economic sectors, ensuring stable fuel supply and preventing the typical scarcity and price surges seen during the yuletide season.