Dangote Refinery Reduces Petrol Prices Again, Reaffirms Commitment to Economic Stability
In a significant move aimed at cushioning Nigerians against the impact of global oil price volatility, Dangote Petroleum Refinery has announced a further reduction in the price of Premium Motor Spirit (PMS), popularly known as petrol.
The company revealed a N15 per litre cut, bringing pump prices to N875 in Lagos, N885 in the South West, N895 in the North West and North Central, and N905 in the South East, South South, and North East. This adjustment follows earlier reductions in February 2025, which saw a total decrease of N125 per litre, and another cut of about N45 per litre in April.
In a statement released to journalists on Thursday in Lagos, the refinery expressed gratitude to President Bola Ahmed Tinubu for the Naira-for-Crude Initiative, crediting the policy for enabling consistent price reductions.
“We are immensely grateful to His Excellency, President Bola Tinubu, for making this possible through the commendable Naira-for-Crude Initiative, which has enabled us to consistently reduce the price of petroleum products for the benefit of all Nigerians,” the company stated.
The refinery emphasized that the price cut is part of its broader commitment to stabilizing the local economy and improving affordability for both individuals and businesses. Alongside petrol, the company has also slashed prices for other key petroleum products, including diesel and Liquefied Petroleum Gas (LPG), enhancing cost efficiency in transportation, industry, and domestic use.
Dangote Petroleum Refinery reassured the public of a stable and sufficient supply of petroleum products to meet national demand, with excess volumes available for export. This, the company noted, will contribute positively to Nigeria’s foreign exchange earnings.
Since commencing operations, Dangote Refinery has prioritized cost-saving measures and strategic partnerships to pass on savings to consumers. Its products are available through a growing network of distributors, including MRS, AP (Ardova), Heyden, Optima Energy, Techno Oil, and Hyde.
The company also extended a call to other marketers to join its distribution network in support of President Tinubu’s Nigeria First policy, which promotes the consumption of locally-produced goods and services.