The Dangote Refinery has slashed its ex-depot price for premium motor spirit (PMS), better known as petrol, from ₦950 per litre to ₦890.
In a statement, the company said the move is “effective from Saturday, 1st February 2025”.
The Dangote Group Chief Branding and Communications Officer Anthony Chiejina said the reduction is based on market realities.
“This strategic adjustment is a direct response to the positive outlook within the global energy and gas markets, as well as the recent reduction in international crude oil prices,” Chiejina said in the statement issued on Saturday night.
He recalled that Dangote Refinery a few weeks back implemented “a modest increase” in the price of the essential commodity “due to the previously rising international crude oil prices.”
The Dangote Refinery said this “price revision reflects the ongoing fluctuations in global crude oil markets” and the plant’s “unwavering commitment to transparency and fairness”.
