Dangote Petroleum Refinery has officially reduced the ex-depot (gantry) price of Premium Motor Spirit (PMS), commonly known as petrol, from N950 to N890 per litre, effective Saturday, 1st February 2025.
This strategic adjustment aligns with the improving trends in the global energy and gas markets, as well as the recent decline in international crude oil prices. It also reinforces Dangote Refinery’s commitment to transparency and fairness, ensuring that domestic fuel prices reflect global crude market fluctuations. This is consistent with our previous price revision on 19th January 2025, when a moderate increase was necessitated by rising crude oil costs at the time.
We strongly believe that this N60 reduction in the ex-depot price of petrol will translate into lower pump prices nationwide, thereby helping to ease the cost of transportation, goods, and services. This positive ripple effect is expected to support economic stability and enhance the overall standard of living.
Furthermore, we urge petroleum marketers to play a crucial role in ensuring that these cost benefits are passed on to Nigerian consumers. This collaborative effort will contribute significantly to Nigeria’s economic recovery strategy, championed by His Excellency, President Bola Ahmed Tinubu, who remains committed to achieving self-sufficiency in refined petroleum products and positioning Nigeria as a leading oil export hub.
Dangote Petroleum Refinery remains dedicated to supporting Nigeria’s economic growth and energy security.
