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Dangote Petroleum Refinery on Wednesday, announced a reduction in the ex-depot (gantry) price of Premium Motor Spirit, PMS, commonly referred to as petrol, by ₦65.00.
This means the price will drop from N890 to N825 per litre, effective Thursday, February 27, 2025.
According to Dangote, this adjustment is designed to provide essential relief to Nigerians ahead of the Ramadan season.
With the latest reduction, the management of the refinery stated that Nigerians will be able to purchase Dangote petrol at the following prices in all partner retail outlets:
“For MRS Holdings stations, it will sell for N860 per litre in Lagos, N870 per litre in the South-West, N880 per litre in the North, and N890 per litre in the South-South and South-East, respectively,” a statement read.
This is the second PMS price reduction in February 2025, following a previous N60.00 decrease earlier in the month.
In December 2024, the refinery reduced the price of PMS by N70.50, from N970 to N899.50 per litre.
In other news, Alhaji Aliko Dangote, the President of the Dangote Group, has announced that the Dangote Petroleum Refinery has accumulated a significant stock of over 500 million litres of petrol, reinforcing its production capacity.
Dangote further stated that the refinery now produces sufficient fuel to meet both local demand and export needs. He made this remark on Saturday while hosting Zambia’s Minister for Energy, Makozo Chikote, during a tour of the $20 billion facility in Lekki, Lagos. Chikote’s visit was aimed at exploring potential collaboration to address Zambia’s energy security challenges.
Addressing officials during the facility tour, Dangote revealed that the refinery’s tank farm currently holds stock valued at N600 billion. He added that the plant is on track to reach its maximum production capacity of 650,000 barrels per day next month, emphasizing that Nigeria’s consumption remains below 50% of the refined products.
