Nigeria TV Info Dangote Refinery Reduces Petrol Price by N75, Announces New Pump Rates Nationwide

The Dangote Petroleum Refinery has announced a reduction in the ex-depot price of Premium Motor Spirit (PMS), popularly known as petrol, by N75 per litre. The latest adjustment is expected to bring relief to millions of Nigerians struggling with high transportation and living costs.

According to the refinery, the price reduction takes immediate effect and reflects the company's commitment to ensuring affordable and stable fuel supply across the country. Under the new pricing structure, petrol will now sell at lower rates across partner filling stations nationwide, depending on location and distribution costs.

The refinery explained that the decision was influenced by improvements in crude oil supply and operational efficiencies, which have enabled it to lower production costs and pass the benefits on to consumers.

Industry analysts say the latest price cut could trigger competition among fuel marketers and potentially force other suppliers to review their pump prices downward. The development is also expected to reduce transportation expenses and ease inflationary pressures on household goods and services.

Dangote Refinery urged marketers and consumers to take advantage of the new pricing regime and assured Nigerians of its continued commitment to ensuring energy security and sufficient petroleum product supply.

The refinery, which commenced local fuel distribution to reduce Nigeria's dependence on imported petroleum products, said it remains focused on supporting the economy through stable and competitive fuel pricing.