By Justus Ononogbo
Dangote Petroleum Refinery & Petrochemicals says it has slashed the price of petrol, for the second time this month. It said it has cut N65 off the previous price of N890, bringing it down to N825 per litre at the gantry (ex-depot). This follows a N60 reduction on February 1.
The ex-depot price according to its press statement has also decreased from N950 per litre in January to the current price of N825 per litre, representing a reduction of N125 per litre within 26 days.
This recent price reduction according to its management is to ensure that Nigerians pay between N860 and N865 per litre for petrol at the pump in Lagos.
The price adjustment according to the Company’s press statements takes effect from February 27.
“This strategic price adjustment is designed to provide essential relief to Nigerians in celebration of the Ramadan season while also supporting Nigeria’s economic recovery process.
“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 reduction of PMS prices in February 2025, following a previous decrease of N60 earlier in the month. Additionally, in December 2024, during the yuletide period, the refinery 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 during the holiday season.”
The management further said that they were so sure that the previous reductions were positively impactful, benefiting various sectors of the economy. They also helped ensure Nigerians didn’t have cause to groan for lack of fuel and its consequential price hikes especially during the yuletide season.
Dangote reiterated that its high-quality products, which have become a favourite in both domestic and international markets, will remain available nationwide, particularly through its key partners—MRS Holdings, AP (Ardova Petroleum), and Heyden—at market-friendly rates.
“Nigerians will be able to purchase high-quality Dangote petrol at the following prices across our partners’ retail outlets: For MRS Holdings stations, it will be sold 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, respectively.
“The same product will also be available at the following prices in AP (Ardova Petroleum) and Heyden stations: 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,” the statement added.
Management further assures the public of consistent supply of petroleum products, with sufficient reserves to meet domestic demand and a surplus for export, aimed at boosting the country’s foreign exchange earnings.
The management has therefore called on marketers to support this initiative, ensuring that Nigerians remain the primary beneficiaries of this effort.