In a move that promises further relief to consumers, Dangote Refinery has once again slashed the ex-depot price of Premium Motor Spirit (PMS), also known as petrol, reducing it from N840 to N820 per litre, effective immediately.
This marks the second reduction in just one week, following an earlier drop from N880 to N840 per litre. The refinery's strategic price adjustments come amid fluctuating global crude oil prices, which were recently driven upward by a 12-day geopolitical crisis in the Middle East.
Confirming the latest reduction, Dangote Group spokesperson, Mr Anthony Chiejina, said the price cut takes effect immediately and will be reflected at partner retail outlets.
Major distributors such as MRS, Heyden, Ardova (AP), Hyde, Optima, and Techno Oil are expected to implement the new pricing. Additionally, more independent marketers have joined the refinery’s growing distribution network.
These include TotalEnergies, Garima Petroleum, Sunbeth Energies, Sobaz Nigeria Ltd., Virgin Forest Energy, Sixxco Oil Ltd., N.U. Synergy Ltd., Soroman Nigeria Ltd., Jezco Oil Nigeria Ltd., and several others.
As the world’s largest single-train refinery, Dangote Refinery is rapidly expanding its domestic fuel distribution footprint, aiming to enhance accessibility and affordability of refined products across Nigeria.
The refinery has also announced a N720 billion investment to deploy 4,000 Compressed Natural Gas (CNG) powered trucks to distribute fuel nationwide.
This initiative is expected to save Nigerians over N1.7 trillion annually by reducing transportation and logistics costs.
From August 15, the refinery will begin direct delivery of petrol and diesel to fuel stations, industrial sites, and other major consumers, an effort designed to lower pump prices, cut inflation, and support more than 42 million Micro, Small, and Medium Enterprises (MSMEs) nationwide.
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