Just in: Dangote Refinery reduces petrol price to ₦899.50 per litre

Dangote Petroleum Refinery has announced a reduction in the ex-depot price of its premium motor spirit (PMS), commonly known as petrol, to ₦899.50 per litre.

Anthony Chiejina, Group Chief Branding and Communications Officer of the Dangote Group, made this announcement in a statement on Thursday.

“Dangote Petroleum Refinery has reduced the price of its Premium Motor Spirit (PMS) product to below ₦900 per litre to provide much-needed relief for Nigerians ahead of the holiday season,” Chiejina stated.

The privately-owned refinery, Africa’s first of its kind, had previously reduced the price to ₦970 per litre on November 24. The new price adjustment is part of efforts to ease transportation costs during the festive period.

In addition to the price reduction, the refinery has introduced a special offer for consumers. For every litre of petrol purchased with cash, customers will be allowed to buy an additional litre on credit, backed by a bank guarantee from Access Bank, First Bank, or Zenith Bank.

“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 ₦899.50 per litre at our truck loading gantry or Single Point Mooring (SPM) facility,” Chiejina said.

Chiejina emphasized the refinery’s dedication to providing Nigerians with high-quality petroleum products at competitive prices, ensuring they are environmentally and engine-friendly.

He also highlighted the significant impact of the refinery’s operations on the Nigerian market, marking the end of the country being a dumping ground for substandard and blended imported fuel products.

These low-quality imports have historically posed risks to human health, machinery, and the environment.

The reduction in petrol prices and the introduction of innovative consumer incentives signal Dangote Refinery’s commitment to easing the financial burden on Nigerians during the holiday season while setting new standards for product quality and service delivery.