Dangote Petroleum Refinery has announced a reduction in the ex-depot price of Premium Motor Spirit (PMS), commonly known as petrol, from ₦890 to ₦825 per litre, effective February 27, 2025. This price cut, a ₦65 drop, was made public by the refinery in a statement released on Wednesday.
The revised pricing will see petrol sold at ₦860 per litre at MRS outlets in Lagos. Other regions will see slightly varied prices, with ₦870 per litre in the South-West, ₦880 per litre in the North, and ₦890 per litre in the South-South and South-East.
For stations operated by Ardova Petroleum (AP) and Heyden, the new prices are as follows: ₦865 per litre in Lagos, ₦875 in the South-West, ₦885 in the North, and ₦895 in the South-South and South-East.
The management of Dangote Refinery reassured the public of a steady supply of petrol, with adequate reserves to not only meet domestic demand but also provide surplus for export, supporting Nigeria’s foreign exchange earnings. The company urged marketers to align with this initiative, ensuring that Nigerians remain the primary beneficiaries.
This latest price reduction is part of the refinery’s ongoing effort to ease the economic pressure on Nigerians, especially with the approach of Ramadan. The price adjustment is also seen as supporting President Bola Ahmed Tinubu’s economic recovery policies by alleviating the financial burden on the populace.
This marks the second price cut in February 2025, following a ₦60 reduction earlier in the month. In December 2024, during the festive period, the refinery had reduced the price of petrol by ₦70.50, from ₦970 to ₦899.50 per litre, as part of its commitment to mitigating the cost of living for Nigerians during the holidays.
Because of