BREAKING: Dangote Refinery Reduces Petrol Ex-Depot Price to N890
Dangote Petroleum Refinery has announced a reduction in the ex-depot price of Premium Motor Spirit (PMS), commonly known as petrol, from N950 to N890 per litre, effective Saturday, February 1, 2025.
According to the refinery, this adjustment reflects the declining international crude oil prices and the positive outlook in global energy and gas markets. It also aligns with the company’s commitment to transparency and fairness in responding to fluctuations in crude oil prices. The latest reduction follows a modest price increase on January 19, which was implemented due to rising crude prices at the time.
Dangote Petroleum Refinery expressed confidence that the new price cut will lower petrol costs nationwide, subsequently reducing the prices of goods and services and easing the overall cost of living. This move is expected to have a positive impact on multiple sectors of the economy.
The company also urged marketers to fully implement the price adjustment to ensure that Nigerians benefit from the reduction. It further emphasized that this initiative aligns with President Bola Ahmed Tinubu’s economic recovery plan, aimed at achieving self-sufficiency in refined petroleum products and positioning Nigeria as a major oil export hub.
