The 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.
In a statement issued on Saturday, the company said the new price takes effect from February 1, 2025.
According to the refinery’s spokesperson, Anthony Chiejina, the price adjustment aligns with the recent decline in international crude oil prices and the improving outlook in the global energy market.
“This reduction reflects the fluctuations in global crude oil prices, just as our January 19 adjustment was based on rising international crude costs at the time,” Chiejina stated.
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He emphasized that the refinery’s goal is to ensure that the price cut translates into lower petrol costs nationwide, ultimately reducing the prices of goods and services and alleviating the overall cost of living.
“Dangote Petroleum Refinery urges marketers to collaborate in ensuring that Nigerians fully benefit from this price reduction,” the statement added.
The company reiterated its commitment to supporting President Bola Ahmed Tinubu’s vision of making Nigeria self-sufficient in refined petroleum products and establishing the country as a major oil export hub.
