Dangote Petroleum Refinery has announced a N65 reduction in the ex-depot price of Premium Motor Spirit (PMS), commonly known as petrol, bringing the cost down from N890 to N825 per litre. The new price takes effect on February 27, 2025.
In a statement posted on its official X account on Wednesday, the Dangote Group management described the price adjustment as a move to provide relief to Nigerians ahead of the Ramadan season while supporting President Bola Ahmed Tinubu’s economic recovery efforts.
“It is important to note that Dangote Petroleum Refinery has consistently lowered the prices of petrol and other refined petroleum products to the benefit of Nigerians. This marks the second price reduction of PMS in February 2025, following a previous decrease of N60.00 earlier in the month,” the statement read.
The company recalled that in December 2024, during the festive season, it had reduced the price of PMS by N70.50—from N970 to N899.50 per litre—as part of its commitment to easing the cost of living and providing relief to Nigerians.
“This reduction has positively impacted the overall cost of living, benefiting various sectors of the economy, and has also ensured that Nigerians did not experience the perennial fuel scarcity and price hikes typically associated with the yuletide season,” the statement added.
The new retail prices for Dangote petrol at partner stations vary by region. At MRS Holdings stations, petrol will be sold at 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. Meanwhile, at AP (Ardova Petroleum) and Heyden stations, the price will be N865 per litre in Lagos, N875 per litre in the South-West, N885 per litre in the North, and N895 per litre in the South-South and South-East.
Dangote Petroleum Refinery reassured Nigerians of a steady supply of petroleum products, with sufficient reserves to meet domestic demand while also having surplus for export to strengthen Nigeria’s foreign exchange earnings.
The company urged petroleum marketers to align with this initiative, ensuring that Nigerians reap the benefits. “This collective action will contribute to the broader economic recovery plan led by His Excellency, President Bola Ahmed Tinubu, who is committed to making Nigeria self-sufficient in refined petroleum products and establishing the country as a leading oil export hub,” the statement concluded.
