Dangote Petroleum Refinery has announced a reduction in the price of Premium Motor Spirit (PMS), commonly known as petrol, to N835 per litre. This adjustment marks the latest in a series of price cuts by the refinery, reflecting its commitment to supporting consumers and contributing to the nation’s economic stability.
The decision to lower the petrol price comes amidst a backdrop of declining global oil prices and the removal of government fuel subsidies, which have collectively influenced the dynamics of Nigeria’s downstream oil industry. Dangote’s strategic pricing approach has prompted other industry players, including the state owned Nigerian National Petroleum Corporation (NNPC), to reevaluate their pricing structures in response to the competitive landscape.
