For the second time this month, Dangote Petroleum Refinery and Petrochemicals Plant has reviewed its ex-depot cost of petrol to ₦835 per litre.
The $20bn Lagos-based refinery informed its marketers and customers of the slash in a notice posted on its official X platform on Wednesday.
In the notice titled: “Dangote Petroleum Refinery Announces Reduction In Petrol Price” Anthony Chiejina, Group Chief Branding and Communications Officer, Dangote Group noted that the reduction takes effect from Wednesday.
It read: “Dangote Petroleum Refinery is pleased to announce a reduction in the gantry price of Premium Motor Spirit (PMS), commonly known as petrol, from N865 to N835, effective from Wednesday, 16th April 2025.
“This marks the second price reduction within a week. High-quality Dangote petrol will now be available at the following prices across all our partner retail outlets: 2 Key partners, including MRS, AP (Ardova), Heyden, Optima Energy, Hyde and Tecno Oil, will offer petrol at N890 per litre, down from N920 in Lagos. In the South-West, the price will be N900 per litre, reduced from N930. In the North-West and North-Central, the price will be N910 per litre, lowered from N940. In the South-East, South-South, and North-East, the price will be N920 per litre, down from N950.
“These price reductions reaffirm our commitment to providing high-quality petrol at affordable rates, benefiting consumers across the nation. In addition, we are working collaboratively with our partners to ensure equitable reflection of this price reduction.
“Dangote Petroleum Refinery has consistently worked to reduce the prices of petrol and other refined petroleum products, ensuring the continued benefit of Nigerian consumers. For example, in February, the refinery reduced prices twice by N125.
“In addition, products such as diesel and Liquefied Petroleum Gas (LPG) have also experienced significant price reductions due to the refinery’s sustained efforts. We anticipate that this latest reduction in PMS prices will generate a positive ripple effect throughout various sectors of the economy, providing much-needed relief to consumers and contributing to broader economic growth, particularly during the Easter season.
“Dangote Petroleum Refinery remains steadfast in its commitment to ensuring a steady supply of premium-quality petroleum products, with sufficient reserves to meet domestic demand, along with a surplus for export. This strategy is designed to support the stability of the domestic market while also contributing to the growth of Nigeria’s foreign exchange reserves.
“Furthermore, Dangote Petroleum Refinery calls on industry stakeholders, including marketers and distributors, to continue sourcing their products from the refinery, ensuring that the benefits of these price reductions are fully realised across the country.”
The price reduction by the private refinery followed a meeting between representatives of the Dangote Refinery and the Minister of Finance, Wale Edun, last week.
At the end of the meeting, the government said the naira-for-crude was still in effect and that the initiative was not a temporary measure but a “key policy directive designed to support sustainable local refining.”
By: Babajide Okeowo
© Ripples Nigeria
