Motorists and businesses have received a fresh relief as the Dangote Petroleum Refinery announced a major cut in the prices of petrol and diesel, reducing the cost of refined products amid rising energy concerns.
The refinery on Wednesday announced that the ex-depot price of Premium Motor Spirit (PMS), popularly known as petrol, has been reduced from N1,215 per litre to N1,165 — a N50 slash.
Diesel also got a price cut, dropping from N1,650 per litre to N1,570, representing an N80 reduction.
In a statement released by the Dangote Group, the refinery said the new pricing regime was introduced to make petroleum products more affordable, improve access to refined fuel and support economic activities across Nigeria.
The company said the move was part of its commitment to delivering “affordable, high-quality petroleum products” to Nigerians while ensuring a steady supply of fuel.
Dangote Refinery added that it would continue to transfer the gains from improved operational efficiency to consumers whenever market conditions allow.
The refinery, which has been positioned as a major player in Nigeria’s energy sector, said its operations would help strengthen the country’s energy security, reduce dependence on imported petroleum products and contribute to economic growth.
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