Nigerians have widely commended Dangote Refinery for its recent decision to reduce the selling price of petrol, a move that many believe will bring significant relief to motorists and businesses across the country.
As the news of the price cut spread, numerous citizens took to social media to express their gratitude, praising the refinery’s management for responding to the economic realities facing Nigerians.
Dangote Refinery announced a reduction in its ex-depot (gantry) price of Premium Motor Spirit (PMS), commonly known as petrol, from N950 per litre to N890 per litre, effective February 1, 2025. The company’s Group Chief Branding and Communication Officer, Anthony Chiejina, disclosed this in a statement.
According to Chiejina, the latest price reduction is in response to global energy market trends and a recent decline in international crude oil prices.
The new pricing means that marketers will now buy petrol from Dangote at N890 per litre. However, they will still factor in additional costs, including transportation and profit margins, to determine the final pump price for consumers. The reduction is expected to lower the retail price from about N1,000 per litre to approximately N950 per litre at filling stations that source their supply from Dangote Refinery.