Dangote Petroleum Refinery has announced a reduction in the ex-depot (gantry) price of Premium Motor Spirit (PMS) commonly known as petrol from N950 to N890 per liter. The new price takes effect from Saturday, February 1, 2025.
According to a statement released by Anthony Chiejina, Group Chief Branding and Communications Officer of Dangote Group, the adjustment aligns with recent trends in the global energy and gas markets, particularly the decline in international crude oil prices. The company emphasized that its pricing policy remains responsive to market realities, noting that this reduction follows an earlier price revision on January 19, 2025, when crude oil price increases had led to a modest hike in PMS rates.
Industry analysts suggest that this N60 per liter reduction could have a positive ripple effect across the economy, leading to lower transportation costs, reduced prices of goods and services, and an overall decrease in the cost of living for Nigerians.
Speaking on the development, an industry expert noted, “This decision reflects Dangote Refinery’s commitment to fair pricing and transparency. It’s a move that could help stabilize fuel costs and ease financial pressure on citizens.”
Furthermore, Dangote Petroleum Refinery has urged marketers to ensure that the benefits of this price reduction are fully passed on to consumers, reinforcing the importance of collective action in driving economic recovery.
