Dangote Refinery has announced a massive reduction in petrol prices, with rates dropping to as low as N899 per litre.
Anthony Chiejina, group chief branding and communications officer, announced this in a statement on Thursday.
This move marks a continued effort by the refinery to stabilise the market and enhance supply to marketers.
Dangote Petroleum Refinery has reduced the price of its Premium Motor Spirit (PMS) product to below N900 per litre, to provide much-needed relief for Nigerians ahead of the holiday season,” he said.
“Africa’s first privately-owned oil refinery, which previously lowered the price to N970 per litre on November 24, has now announced a new price of N899.50 per litre.”
Chiejina said the reduction is designed to alleviate transport costs during the festive period.
He said the company also introduced a special offer to further benefit consumers.
In addition to the holiday discount, the spokesperson said consumers will be allowed to purchase one extra litre of fuel on credit for every litre bought on a cash basis.
“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 SPM,” he said.
“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.”
Chiejina also underlined the refinery’s commitment to ensuring Nigerians have access to “premium quality” petroleum products that are competitively priced, as well as environmentally and engine friendly.
The spokesperson said the refinery’s operations mark the end of Nigeria being a dumping ground for substandard and “blended” imported products, which have presented significant hazards to human health, machinery, and the environment.
DAILY GIST recalls that in November, the refinery lowered its Premium Motor Spirit (PMS) price to N970 per litre, down from N990.
At the time, Dangote Refinery provided marketers with a N20 per litre discount to ease distribution costs.
The refinery’s latest price adjustment comes at a critical time for Nigeria’s energy sector, as stakeholders continue to navigate challenges surrounding fuel availability and affordability.
Market observers anticipate that the price reduction will alleviate some of the cost pressures on independent marketers and, by extension, consumers
