•As Firm, assures steady supply, backs Tinubu’s economic reforms
In another bold move to cushion the impact of high fuel prices on Nigerians, Dangote Petroleum Refinery & Petrochemicals has announced a fresh reduction of N15 in the pump price of Premium Motor Spirit (PMS), bringing the price down to N875 per litre in Lagos.
This latest price cut, effective across all distribution partners including MRS, AP (Ardova), Heyden, Optima Energy, Techno Oil, and Hyde, will see petrol retail for N885 per litre in the South West, N895 in the North West and North Central, and N905 in the South East, South South, and North East.
The company described the reduction as part of its ongoing commitment to President Bola Tinubu’s “Nigeria First” policy, which champions the consumption of locally produced goods and services as a path to economic recovery and national self-reliance.
Since beginning operations, the Dangote Refinery has aggressively pursued a downward pricing strategy to ease the economic burden on consumers. In February 2025, the company implemented two price cuts totalling N125 per litre, followed by a further N45 reduction in April. Prices of other major petroleum products such as diesel and liquefied petroleum gas (LPG) have also seen significant decreases.
The refinery emphasised that its domestic refining model is key to price stability, insulating Nigeria from the volatility of the global crude oil market.
“By refining petroleum products domestically at the world’s largest single-train refinery, we are proud to make a substantial contribution to Nigeria’s energy security, foreign exchange savings, and overall economic resilience,” the company said in a statement.
The company expressed gratitude to President Tinubu for his administration’s Naira-for-Crude Initiative, which it credited for enabling sustainable pricing of petroleum products.
“We are immensely grateful to His Excellency, President Bola Tinubu, for making this possible through the commendable Naira-for-Crude Initiative. This has enabled us to consistently reduce the price of petroleum products for the benefit of all Nigerians,” it added.
Reassuring the public, the refinery stated that it has sufficient reserves to meet Nigeria’s domestic demand while also maintaining surplus volumes for export—a strategy aimed at boosting the country’s foreign exchange earnings.
Meanwhile, the refinery’s founder, Aliko Dangote, received global recognition this week as he was named among TIME Magazine’s inaugural 2025 TIME100 Philanthropy list. The list highlights 100 global leaders driving the future of charitable giving. Dangote, whose Foundation spends an estimated $35 million annually on various initiatives across Africa, was listed alongside renowned philanthropists like Michael Bloomberg, Oprah Winfrey, Warren Buffett, and Melinda Gates under the “Titans” category.
This international recognition underscores the influential role Dangote continues to play not only in industrial development but also in social impact across the continent.
With its ongoing price cuts, reliable supply, and commitment to economic stability, the Dangote Refinery is reinforcing its role as a critical player in Nigeria’s drive toward energy independence and economic transformation.
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