Dangote Refinery Slashes Petrol Price to N825/Litre, Offers Relief to Nigerians
Comfort Chukwukelue
In a significant move to ease the financial burden on Nigerians, Dangote Petroleum Refinery has announced a reduction in the ex-depot price of Premium Motor Spirit (PMS), commonly known as petrol. Effective February 27, 2025, the price will drop by N65, from N890 to N825 per litre.
This latest reduction, aimed at providing relief ahead of the Ramadan season, also aligns with President Bola Ahmed Tinubu’s economic recovery policy, which seeks to alleviate financial hardships faced by the populace.
With the price adjustment, Lagos residents will now purchase fuel at N860 per litre at MRS outlets, while prices in other regions will vary. According to the refinery’s management, the updated retail prices across partner outlets are as follows:
• MRS Holdings stations:
• Lagos – N860 per litre
• South-West – N870 per litre
• North – N880 per litre
• South-South/South-East – N890 per litre
• AP (Ardova Petroleum) & Heyden stations:
• Lagos – N865 per litre
• South-West – N875 per litre
• North – N885 per litre
• South-South/South-East – N895 per litre
This marks the second price cut in February 2025, following an earlier N60 reduction at the beginning of the month. Additionally, in December 2024, during the yuletide season, Dangote Refinery lowered the price of PMS by N70.50, from N970 to N899.50 per litre, to provide relief to Nigerians during the holiday period.
The refinery assured the public of a steady supply of petroleum products, with sufficient reserves to meet domestic demand and surplus for export, contributing to Nigeria’s foreign exchange earnings. It also urged fuel marketers to support this initiative and ensure that consumers benefit from the price reduction.
With this latest development, Nigerians can expect some relief from high fuel costs, as the country continues efforts to stabilize the economy and reduce the cost of living.
