Dangote Petroleum Refinery has announced a reduction in the ex-depot price of Premium Motor Spirit (PMS) by N65.00, from N890 to N825 per litre, effective from 27th February 2025.
Under the new arrangement, buyers in Lagos would purchase fuel at N860 per litre at MRS outlets.
The management of the refinery revealed that the price cut is aimed at easing financial pressures on Nigerians ahead of the Ramadan season, while aligning with President Bola Tinubu’s economic recovery efforts.
Though, this is the second petrol price reduction by Dangote in February 2025, following a previous N60 decrease earlier in the month.
In December 2024, during the Christmas season, the refinery had also reduced petrol prices by N70.50 — from N970 to N899.50 per litre — as part of efforts to relieve Nigerians of rising living costs.
It outlined the updated prices for various regions:
“For MRS Holdings stations, it will sell 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 respectively.”
Similarly, petrol prices at AP (Ardova Petroleum) and Heyden stations will be as follows:
“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.”
However, it assured Nigerians that there’s enough supply to meet local demand and even sustain exports to boost foreign exchange earnings.
The refinery also urged fuel marketers to support the initiative to ensure Nigerians fully benefit from the price reduction.