Dangote Petroleum Refinery has announced a reduction in the ex-depot price of Premium Motor Spirit (PMS), commonly known as petrol, from N990 per litre to N970 per litre. The price adjustment, which will take effect immediately for oil marketers, is part of the company’s end-of-year initiative aimed at giving back to the Nigerian public.
In a statement, Anthony Chiejina, the Group Chief Branding and Communications Officer of Dangote Group, highlighted that this price cut is a gesture of appreciation to Nigerians for their continued support in making the Dangote Refinery a reality.
“This is our way of appreciating the good people of Nigeria for their unwavering support in making the refinery a dream come true,” Chiejina said.
Since its launch earlier this year, the Dangote Refinery has emerged as a key player in Nigeria’s strategy for achieving self-sufficiency in petroleum refining. The facility, recognized as the world’s largest single-train refinery, has already made a significant impact by increasing domestic production capacity and reducing Nigeria’s dependence on imported petrol.
Chiejina further emphasized the refinery’s commitment to providing high-quality, environmentally friendly, and sustainable fuel products, reassuring the public that they can rely on the facility to meet domestic fuel needs.
“We assure you of best quality products that are environmentally friendly and sustainable,” he added, noting that Dangote Refinery is ramping up production to meet and exceed Nigeria’s domestic fuel consumption requirements.
The price reduction is expected to have a positive impact on the Nigerian economy, offering relief to consumers grappling with rising inflation. It also underscores the refinery’s capacity to meet the nation’s fuel demands, dispelling concerns over potential shortages.
As the refinery continues to scale up its operations, the price reduction could provide a welcome boost to the Nigerian economy, particularly by easing the financial strain on consumers and businesses alike.