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Nigeria’s Dangote Refinery has reduced the Premium Motor Spirit (Petrol) price for marketers to ₦970 per litre.
The spokesperson of Dangote Group, Anthony Chiejina, disclosed this in a statement on Sunday.
According to him, the 650,000 barrels per day refinery slashed the petrol price by ₦20 from ₦990 per litre to ₦970.
Read Also: Dangote Restarts US Crude Imports After Three-Month Halt
This comes as the company vowed not to compromise on the quality and standard of its product.
“Dangote Petroleum Refinery has affected a reduction in the prevailing price of its Premium Motor Spirit (PMS) from N990/litre to N970/litre for the marketers.
“As the year comes to an end, this is our way of appreciating the good people of Nigeria for their unwavering support in making the refinery a dream come true. In addition, this is to thank the government for its support, as this will complement the measures put in place to encourage domestic enterprise for our collective well-being.
“While the refinery would not compromise on the quality of its petroleum products, We assure you of the best quality products that are environmentally friendly and sustainable.
“We are determined to keep ramping up production to meet and surpass our domestic fuel consumption; thus, dispelling any fear of a shortfall in supply”.
This comes after the Refinery and Independent Petroleum Marketers Association of Nigeria reached an agreement for direct fuel purchase.
The Eastern Updates had also reported that fuel is sold across Nigerian filling stations between ₦1060 and ₦1,115 per litre.
In other news, as part of its continuous drive to amplify oil production and streamline refining operations, the Dangote Petroleum Refinery has once again turned to the United States for crude oil imports, reaffirming its role in reshaping Nigeria’s energy ecosystem.
Following a deliberate three-month hiatus in foreign crude oil imports, during which domestic sources were prioritized, this new purchase suggests a renewed interest in diversifying the refinery’s supply chain.
In a report published on Wednesday, Bloomberg detailed that Chevron Corporation has arranged for the shipment of two million barrels of WTI Midland crude, which is set to be delivered to the refinery next month, highlighting the continued reliance on high-quality imported crude.
The situation may signal that the Federal Government’s naira-for-crude initiative is experiencing difficulties or that the refinery is grappling with inadequate crude shipments from the Nigerian National Petroleum Company Limited, potentially affecting its operational capacity.
