Breaking News: Dangote Refinery Slashes Petrol Prices Once More

Dangote Petroleum Refinery and Petrochemicals Company has announced a further N15 decrease in the retail price of its premium motor spirit (PMS), commonly known as petrol. The new pricing details were shared with the media on Thursday in Lagos.

Under this latest adjustment, consumers across different regions will purchase petrol at the following rates:

– N875 per litre in Lagos,
– N885 per litre for the South West,
– N895 per litre in the North West and North Central regions,
– N905 per litre in the South East, South South, and North East zones.

These prices are applicable through the company’s authorized partners, including MRS, Ardova (AP), Heyden, Optima Energy, Techno Oil, and Hyde.

Dangote Petroleum Refinery also called on other industry players to join its growing network of partners to show support for President Bola Tinubu’s “Nigeria First” policy, which emphasizes prioritizing locally-produced goods and services.

Since beginning operations, the refinery has maintained a consistent focus on reducing costs, translating into tangible savings for Nigerians. This year alone, the company implemented two significant price cuts in February, amounting to N125 per litre, followed by an additional N45 reduction in April.

In addition to petrol, prices for diesel and Liquefied Petroleum Gas (LPG) have also seen notable drops, enhancing affordability for transportation, industrial activities, and household energy needs.

The company reaffirmed its commitment to price stability, despite global fluctuations in crude oil prices. It highlighted its role in supporting Nigeria’s economic growth by refining petroleum domestically at the world’s largest single-train refinery.

A company spokesperson stated: *“Our domestic refining capabilities contribute significantly to Nigeria’s energy security, save foreign exchange, and bolster economic resilience — aligning with President Bola Tinubu’s Renewed Hope Agenda focused on tackling economic challenges and improving Nigerians’ livelihoods.”*

They further expressed gratitude to President Tinubu for the implementation of the Naira-for-Crude initiative, which has facilitated ongoing price reductions benefiting all Nigerians.

Finally, Dangote Petroleum Refinery assured Nigerians that it would maintain steady supplies of petroleum products, with enough reserves to meet local demand and potentially export surplus quantities to support the country’s foreign exchange earnings.