The Dangote Petroleum Refinery has announced a nationwide reduction in petrol pump prices, lowering the cost of Premium Motor Spirit (PMS) by N15 per litre across all regions. The new price now ranges from N875 to N905 per litre, depending on location.
According to a post on Dangote Refinery’s official social media platforms, the revised prices apply at all partner retail outlets, including MRS, Ardova, Heyden, Optima Energy, Techno Oil, and Hyde Energy. This price cut affects major regions as follows: Lagos – N875, South-West – N885, North-East – N905, North-West and Central – N895, and South-South and South-East – N905.
Previously, Lagos residents paid N890 per litre, while those in the North-East and South-South paid as high as N920. The refinery urged consumers to buy only from authorised outlets and report any non-compliance via its customer service hotlines.
The company stated that its fuel products offer better engine performance and are environmentally friendly. The reduction follows the reinstatement of a refund benefit policy offered to retailers earlier in the week.
This development comes shortly after reports indicated that independent marketers had resumed large-scale importation of petrol, with over 496 million litres brought into the country in just nine days. Tanker movement data showed that 370,000 metric tonnes of petrol arrived at Nigerian ports between May 11 and May 20.
On Monday, the Dangote Refinery attributed its ability to cut prices to the “naira-for-crude” agreement, which it said was key to offering more affordable fuel. Despite fluctuations in global oil prices, the company says it remains committed to maintaining stable and affordable petrol prices to support the Nigerian economy and ease the financial burden on consumers.
