By Hosea Parah, Abuja
Dangote Petroleum Refinery has announced a reduction in the ex-depot price of Premium Motor Spirit (PMS), popularly known as petrol, by N65.00, effective from 27th February 2025. The price will drop from N890 to N825 per litre, providing essential relief to Nigerians ahead of the upcoming Ramadan season.
This price cut is in line with the refinery’s ongoing commitment to easing the financial burden on Nigerians and supporting the economic recovery policies of President Bola Ahmed Tinubu. It marks the second reduction in February 2025, following an earlier decrease of N60.00 earlier this month.
In addition to the February price adjustments, Dangote Petroleum Refinery also reduced the price of PMS by N70.50 in December 2024, during the yuletide period. This move was part of an effort to mitigate the typical seasonal price hikes and fuel scarcity, benefiting Nigerians during the holiday season and helping to reduce the overall cost of living.
The new prices will be available at Dangote’s retail partners. MRS Holdings stations will sell the product for N860 per litre in Lagos, N870 per litre in the South-West, N880 per litre in the North, and N890 per litre in the South-South and South-East regions. Meanwhile, Ardova Petroleum (AP) and Heyden stations will offer the same product at slightly higher rates: N865 per litre in Lagos, N875 in the South-West, N885 in the North, and N895 in the South-South and South-East.
Dangote Petroleum Refinery has also assured the public of a steady supply of petroleum products, with sufficient reserves to meet domestic needs and provide surplus for export. The company urged marketers to support this initiative, ensuring that Nigerians are the primary beneficiaries of the price reduction.
This action is aligned with President Tinubu’s broader economic goals to make Nigeria self-sufficient in refined petroleum products and to establish the country as a major oil exporter, boosting foreign exchange earnings.
The refinery’s management emphasized that the reduction is part of an ongoing strategy to alleviate the cost of living, while fostering a more stable and predictable petroleum market for the Nigerian people.