Emmanuel OchayiDangote Petroleum Refinery has announced a reduction in the ex-depot price of Premium Motor Spirit (PMS), commonly known as petrol, by ₦65 per litre. The price has been lowered from ₦890 to ₦825 per litre, effective February 27, 2025.
In a statement, Dangote Refinery explained that the price cut aims to provide relief to Nigerians ahead of Ramadan while also supporting President Bola Ahmed Tinubu’s economic recovery plan. The company said the move would help ease the financial burden on consumers and stabilise fuel supply across the country.
Join our WhatsApp ChannelDangote Refinery’s Second Price Cut in February
This is the second petrol price reduction in February 2025. Earlier in the month, Dangote Refinery lowered the price by ₦60 per litre. The company has been making continuous efforts to make fuel more affordable. In December 2024, it also reduced the petrol price by ₦70.50 per litre to ease the financial strain on Nigerians during the festive season.
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These price adjustments have helped reduce the cost of living while ensuring a steady supply of fuel. By keeping prices lower, Dangote Refinery is preventing fuel shortages that usually happen during peak periods like Ramadan and Christmas.
Petrol Prices at Retail Stations Vary Across Regions
Despite the refinery’s price reduction, the final cost of petrol at retail stations will differ based on location and the company operating the station. MRS Holdings stations will sell petrol at:
- ₦860 per litre in Lagos
- ₦870 per litre in the South-West
- ₦880 per litre in the North
- ₦890 per litre in the South-South and South-East
Meanwhile, at AP (Ardova Petroleum) and Heyden stations, prices will be slightly higher:
- ₦865 per litre in Lagos
- ₦875 per litre in the South-West
- ₦885 per litre in the North
- ₦895 per litre in the South-South and South-East
Dangote Refinery’s Commitment to Fuel Supply
Dangote Refinery assured Nigerians that there will be a steady and sufficient supply of petrol across the country. The company has also reserved additional fuel for export, a move that is expected to boost Nigeria’s foreign exchange earnings.
The refinery urged fuel marketers to support the initiative and pass on the benefits of the price reduction to consumers. This aligns with President Tinubu’s vision of making Nigeria self-sufficient in refined petroleum products while also positioning the country as a key player in the international oil market.
Economic Impact of Dangote Refinery’s Price Reduction
The latest price cut by Dangote Refinery is expected to:
- Lower transportation costs, which could reduce the price of goods and services.
- Ease financial pressure on households ahead of the Ramadan season.
- Support local businesses, which depend on petrol for operations.
With Nigeria’s dependence on imported fuel gradually reducing, Dangote Refinery’s decision to cut prices shows a commitment to economic stability and affordability.
Emmanuel Ochayi is a journalist. He is a graduate of the University of Lagos, School of first choice and the nations pride. Emmanuel is keen on exploring writing angles in different areas, including Business, climate change, politics, Education, and others.
