Emmanuel OchayiDangote Refinery has announced a reduction in the price of Premium Motor Spirit (PMS) to N899.50 per litre, offering Nigerians some relief as the festive season draws near. This development, confirmed in a statement by the Group Chief Branding and Communications Officer, Anthony Chiejina, is seen as a move to ease transportation costs during the holiday period.
According to Chiejina, the price cut is aimed at reducing the financial burden on Nigerians, especially during a period when travel expenses typically increase. This move follows a prior reduction to N970 per litre on November 24, further solidifying Dangote Refinery’s commitment to providing affordable energy solutions.
Join our WhatsApp ChannelNew Credit Purchase Option Introduced
In a novel initiative, Dangote Refinery has also introduced a “buy-one-get-one-on-credit” offer. This offer allows consumers to purchase an additional litre of fuel on credit for every litre bought in cash. To access this offer, customers must provide a bank guarantee from Access Bank, First Bank, or Zenith Bank.
Chiejina explained, “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 Single Point Mooring (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 unique offer has been welcomed by many Nigerians who see it as a chance to manage fuel expenses more effectively during a period of heightened travel activity.
Commitment to Quality and Sustainability
Dangote Refinery’s latest move is part of a broader effort to reduce Nigeria’s reliance on imported petroleum products. Chiejina reiterated the company’s mission to provide high-quality, environmentally friendly petroleum products at competitive prices.
“Our goal is to end Nigeria’s dependence on substandard and blended imported petroleum products, which have historically harmed human health, machinery, and the environment,” Chiejina stated.
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The refinery’s emphasis on quality and sustainability is seen as a critical step in transforming Nigeria’s oil and gas sector. By prioritising local production and offering competitive pricing, Dangote Refinery is positioning itself as a leader in the Nigerian energy market.
Public Reactions to Dangote Refinery’s Initiative
The announcement has sparked widespread reactions from Nigerians, especially on social media. Many users have praised Dangote Refinery’s effort to reduce fuel costs and introduce flexible payment options. “This is a win for the masses,” commented one social media user. Another user added, “With the festive season around the corner, this couldn’t have come at a better time.”
However, some have raised concerns about the accessibility of the bank guarantee required to access the credit purchase offer. Critics argue that not all Nigerians may be able to obtain a bank guarantee from the specified banks, limiting the offer’s reach.
Looking Ahead
As the festive season approaches, the price reduction and new credit purchase option are expected to bring much-needed financial relief to Nigerians. The Dangote Refinery’s strategy aligns with its goal to create a more self-sufficient energy sector in Nigeria, ensuring better fuel access at affordable rates.
With Nigerians looking for cost-saving opportunities during the holiday season, the move by Dangote Refinery could set a precedent for other energy companies to follow. Many will be watching closely to see if this strategy will be extended beyond the festive period or if it will inspire similar initiatives from competitors in the energy sector.
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.
