Dangote Refinery has announced a further reduction in the price of Premium Motor Spirit (PMS), commonly known as petrol, in a move aimed at alleviating transportation costs during the festive period.
The company made this disclosure in a statement issued by its spokesperson, Anthony Chiejina, and posted on its official X (formerly Twitter) account on Thursday.
According to the statement, the ex-depot price of petrol has been reduced from ₦970 to ₦899.50 per litre.
This marks a significant drop in price as the festive season approaches, a period often characterized by increased travel and heightened demand for fuel.
“We are pleased to announce a new ex-depot price of ₦899.50 per litre for Premium Motor Spirit (PMS). This reduction is part of our commitment to easing the financial burden on Nigerians during this holiday season,” Chiejina stated.
He further explained that the initiative is designed to bring relief to consumers who are grappling with high transportation costs. To make the offer even more appealing, Dangote Refinery has introduced a unique holiday discount scheme.
“To alleviate transport costs during this holiday season, Dangote Refinery is offering a festive discount on PMS. Starting today, our petrol will be available at ₦899.50 per litre at our truck loading gantry or Single Point Mooring (SPM) facilities,” the statement read.
In addition to the price reduction, the company unveiled a special consumer-friendly initiative.
“For every litre of PMS purchased on a cash basis, consumers will have the opportunity to buy another litre on credit.
This offer is backed by a bank guarantee from any of the following financial institutions: Access Bank, First Bank, or Zenith Bank,” Chiejina added.
This latest development follows an earlier price reduction by Dangote Refinery in November, when the company lowered petrol prices to ₦970 per litre.
The current adjustment underscores the refinery’s commitment to supporting consumers during challenging economic times.
Meanwhile, other key players in the oil and gas sector, including the Nigerian National Petroleum Company Limited (NNPC) and various independent marketers, have also made similar reductions in petrol prices at their retail outlets in recent weeks.
These moves reflect a broader trend in the industry aimed at stabilizing fuel costs and easing the economic pressures on Nigerians.
As the festive season draws closer, Dangote Refinery’s price adjustment and consumer-friendly incentives are expected to provide much-needed relief to individuals and businesses alike, fostering greater mobility and economic activity during this critical period.
