Again, Dangote Refinery Slashes Petrol Price in Lagos
The management of Dangote Petroleum Refinery has announced a reduction in the ex-depot price of Premium Motor Spirit (PMS), commonly known as petrol, from ₦890 to ₦825 per litre. The new price will take effect from 27th February 2025.
The ₦65 price reduction was disclosed in a statement issued on Wednesday by the refinery.
Under the revised pricing structure, consumers in Lagos will purchase fuel at ₦860 per litre at MRS outlets. The statement also outlined the new prices for various regions: ₦870 per litre in the South-West, ₦880 per litre in the North, and ₦890 per litre in the South-South and South-East.
For Ardova Petroleum (AP) and Heyden stations, the product will be available at ₦865 per litre in Lagos, ₦875 per litre in the South-West, ₦885 per litre in the North, and ₦895 per litre in the South-South and South-East.
The company assured the public that there would be a consistent supply of petroleum products, with sufficient reserves to meet domestic demand and a surplus available for export, contributing to the nation’s foreign exchange earnings.
Dangote Petroleum Refinery urged marketers to support this initiative to ensure that Nigerians benefit from the price reduction. The adjustment, according to the refinery, aims to provide relief to Nigerians in anticipation of the upcoming Ramadan season and to support President Bola Ahmed Tinubu’s economic recovery policies by easing the financial strain on the populace.
This is the second price reduction of PMS in February 2025, following a ₦60 cut earlier in the month. In December 2024, during the holiday season, the refinery also reduced the price of PMS by ₦70.50, from ₦970 to ₦899.50 per litre, as part of efforts to ease the cost of living and provide relief to Nigerians.
