JUST IN: Dangote Refinery Announces Fresh Petrol Price Cut

Dangote Petroleum Refinery has announced a new reduction in the ex-depot price of Premium Motor Spirit (PMS), commonly known as petrol, lowering it from N890 to N825 per litre. The adjustment, which takes effect on February 27, 2025, marks another effort by the refinery to ease the financial burden on Nigerians.

According to the company, the price cut is intended to provide relief ahead of the Ramadan season and aligns with President Bola Ahmed Tinubu’s economic recovery agenda. This is the second reduction in February, following a previous cut of N60 earlier in the month. In December 2024, Dangote had also lowered petrol prices by N70.50 during the yuletide period to support consumers.

With the latest adjustment, petrol from Dangote Refinery will now retail at varying prices across different regions. At MRS Holdings stations, the price will be N860 per litre in Lagos, N870 in the South-West, N880 in the North, and N890 in the South-South and South-East. Meanwhile, AP (Ardova Petroleum) and Heyden stations will sell the product at N865 per litre in Lagos, N875 in the South-West, N885 in the North, and N895 in the South-South and South-East.

The refinery reassured Nigerians of a stable fuel supply, with sufficient reserves for domestic needs and surplus for export to boost foreign exchange earnings. It urged petroleum marketers to support the initiative to ensure that consumers benefit fully from the price reduction.