Dangote Petroleum Refinery has reduced the ex-depot price of its premium motor spirit (PMS), also known as petrol, to N899.50 per litre.
The price cut was disclosed in a statement issued on Thursday morning by the Group Chief Branding and Communications Officer, Mr. Anthony Chiejina.
The company said the decision was taken to “provide much-needed relief for Nigerians ahead of the holiday season”.
“Africa’s first privately-owned oil refinery, which previously lowered the price to N970 per litre on November 24, has now announced a new price of N899.50 per litre. This reduction is designed to ease transport costs during the festive period,” the statement partly reads.
He added that the company also introduced a special offer to further benefit consumers.
“In addition to the holiday discount, Dangote Petroleum Refinery is allowing consumers to purchase an additional litre of fuel on credit for every litre bought on a cash basis.
“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 N899.50 per litre at our truck loading gantry or SPM. Furthermore, for every litre purchased on a cash basis, consumers will have the opportunity to buy another litre on credit, backed by a bank guarantee from Access Bank, First Bank, or Zenith Bank,” said Chiejina.
It also expressed gratitude to Nigerians for their continued support as the country enters the festive season.
The image maker of the company further stressed the refinery’s commitment to ensuring Nigerians have access to premium quality petroleum products that are competitively priced, as well as environmentally and engine friendly.
He noted that the refinery’s operations mark the end of Nigeria being a dumping ground for substandard and ‘blended’ imported products, which have posed significant risks to human health, machinery, and the environment.
Meanwhile, Dangote Refinery, with a capacity of 650,000 barrels per day (BPD), is the largest single-train refinery in the world. It is fully capable of meeting 100% of Nigeria’s refined petroleum product requirements, with a surplus available for export.