In a move to provide relief to Nigerians during the festive season, Dangote Refinery has announced a significant reduction in the ex-depot price of Premium Motor Spirit (PMS), commonly known as petrol.
The refinery, through its spokesperson, Anthony Chiejina, disclosed on Thursday via X (formerly Twitter) that the price per litre has been reduced to N899.50, down from the previous price of N970. The company emphasized that the reduction aims to ease transportation costs during the holiday period.
The statement read:
“…we have now announced a new price of N899.50 per litre. This reduction is designed to ease transport costs during the festive period.
“To alleviate transport costs during this holiday season, Dangote Refinery is offering a holiday discount on PMS. From today, our petrol will be available at N899.50 per litre at our truck loading gantry or SPM.
“Furthermore, for every litre purchased on a cash basis, consumers will have the opportunity to buy another litre on credit, backed by a bank guarantee from Access Bank, First Bank, or Zenith Bank.”
This price cut comes shortly after the refinery’s first reduction in November 2024, when petrol prices were lowered to N970 per litre.
The announcement aligns with similar actions by the Nigerian National Petroleum Company Limited (NNPC) and independent oil marketers, who have also reduced pump prices in recent weeks.
Dangote Refinery’s move is expected to provide significant relief for Nigerians, particularly with the rising cost of living. By coupling the reduction with an innovative credit system, the company aims to make petrol more accessible during the festive period, easing the financial burden on individuals and businesses alike.
