Dangote Petroleum Refinery has announced a significant reduction in the ex-depot price of Premium Motor Spirit (PMS), commonly known as petrol. Effective from February 27, 2025, the price has been lowered by N65, bringing it down from N890 to N825 per litre.
As a result of this adjustment, customers purchasing fuel at MRS outlets in Lagos will now pay N860 per litre. This move is aimed at providing financial relief to Nigerians, particularly ahead of the Ramadan season. Additionally, it aligns with President Bola Ahmed Tinubu’s economic recovery initiatives, which seek to ease the financial strain on citizens.
This latest price cut continues a trend of reductions by Dangote Refinery, which has repeatedly adjusted the cost of petrol and other refined petroleum products. Notably, this is the second reduction in February 2025 alone, following an earlier price drop of N60 at the beginning of the month.
Similarly, in December 2024, the refinery had reduced the price of PMS by N70.50, from N970 to N899.50 per litre during the festive period. This decision was part of the company’s commitment to alleviating the cost of living for Nigerians, particularly during high-spending seasons such as Christmas and New Year celebrations.
With the most recent price revision, Dangote Refinery has outlined the new petrol prices across its partner retail outlets. At MRS Holdings stations, petrol will be sold at 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 regions.
Similarly, at AP (Ardova Petroleum) and Heyden stations, the new rates will be 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.
The company has assured Nigerians of a stable and adequate supply of petroleum products, emphasizing that it has sufficient reserves to meet domestic demand. Additionally, the refinery intends to export surplus products to boost the country’s foreign exchange earnings.
Dangote Refinery also called on fuel marketers to cooperate with the price reduction initiative to ensure that the benefits reach ordinary Nigerians. The company reaffirmed its commitment to making fuel more affordable and accessible, thereby reducing the economic burden on consumers nationwide.
