Korede Abdullah in Lagos
Dangote Petroleum Refinery has announced another reduction in the ex-depot price of Premium Motor Spirit (PMS), lowering it from ₦890 to ₦825 per litre, effective February 27, 2025.
This ₦65 price cut marks the second reduction in February, following an earlier ₦60 decrease. The refinery stated, “For MRS Holdings stations, it will sell for ₦860 per litre in Lagos, ₦870 per litre in the South-West, ₦880 per litre in the North, and ₦890 per litre in the South-South and South-East.”
Similarly, AP (Ardova Petroleum) and Heyden stations will offer fuel at slightly different rates, with Lagos prices set at ₦865 per litre.
The refinery emphasized that this move aligns with its commitment to ensuring a stable fuel supply while supporting Nigeria’s economic recovery efforts.
“The same product will also be available at the following prices in AP and Heyden stations: ₦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 statement added.
With substantial reserves, Dangote Refinery assured Nigerians that there is enough fuel to meet domestic demand and sustain exports, contributing to foreign exchange earnings.
The management highlighted that the latest price adjustment aims to alleviate financial burdens, particularly ahead of the Ramadan season.
“This initiative is designed to provide essential relief to Nigerians and support President Bola Ahmed Tinubu’s economic recovery policy,” the statement read.
This marks the third major price reduction since December 2024, when the refinery cut PMS prices by ₦70.50 during the festive season. With Africa’s richest man, Aliko Dangote, spearheading these adjustments, the refinery continues to play a major role in the country’s oil industry.
