Dangote Refinery Reduces Fuel Price by ₦25 per Litre
By Erewunmi Peace
Dangote Petroleum Refinery has announced a reduction in the price of petrol (Premium Motor Spirit, PMS), lowering the cost by ₦25 per litre. The new ex-depot price now stands at ₦774 per litre, down from ₦799 per litre.
The price adjustment was communicated to marketers and is effective immediately, signaling relief for fuel consumers amid the rising cost of living.
Industry analysts say the price cut comes as Dangote Refinery ramps up local production, leveraging its capacity to supply PMS directly to the Nigerian market. This move is expected to ease fuel scarcity and stabilize prices across the country.
Market watchers also anticipate that this reduction could prompt other marketers and distributors to review their retail prices, potentially translating to cheaper fuel at the pump for consumers.
The refinery’s decision aligns with broader efforts to boost domestic refining and reduce Nigeria’s dependence on imported fuel, a longstanding goal of the federal government and private sector stakeholders.
