In a move aimed at providing financial relief to Nigerians ahead of the Ramadan season, Dangote Petroleum Refinery has announced a reduction in the ex-depot price of Premium Motor Spirit (PMS), commonly known as petrol.
Effective Thursday, February 27, 2025, the ex-depot price will decrease by N65, from N890 to N825 per litre.
This adjustment is expected to lower pump prices across various regions. In Lagos, motorists can anticipate purchasing petrol at N860 per litre at MRS Holdings stations, while prices at AP (Ardova Petroleum) and Heyden stations will be N865 per litre.
Prices will vary in other regions, with the South-West seeing rates of N870 and N875 per litre, the North at N880 and N885 per litre, and the South-South/South-East at N890 and N895 per litre for MRS Holdings and AP/Heyden stations respectively.
This marks the second reduction in PMS prices by Dangote Refinery in February 2025, following a previous decrease of N60 earlier in the month.
In December 2024, during the yuletide season, the refinery reduced the price of PMS by N70.50, from N970 to N899.50 per litre, demonstrating its commitment to easing the cost of living for Nigerians during festive periods.
The refinery’s management stated that this strategic price adjustment aligns with President Bola Ahmed Tinubu’s economic recovery policy, aiming to alleviate the financial burden on the populace.
They also reassured the public of a consistent supply of high-quality petroleum products, with sufficient reserves to meet domestic demand and a surplus for export, thereby enhancing the country’s foreign exchange earnings.
As the largest single-train refinery in Africa, with a capacity of 650,000 barrels per day, Dangote Petroleum Refinery continues to play a pivotal role in stabilizing fuel prices and ensuring product availability across Nigeria.
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