IBY
Peterside Rejoice Eneky
Dangote Petroleum Refinery has announced a reduction in the ex-depot price of Premium Motor Spirit (PMS), lowering it from N890 to N825 per litre. The new price, which takes effect from February 27, 2025, will see fuel selling at N860 per litre at MRS outlets in Lagos.
The refinery explained that the decision was aimed at providing relief to Nigerians ahead of the Ramadan season while also aligning with President Bola Ahmed Tinubu’s economic recovery policies.
This marks the second petrol price reduction in February, following an earlier N60 decrease at the beginning of the month. In December 2024, the refinery had also reduced petrol prices by N70.50 to ease the financial burden on consumers during the festive period.
Under the new pricing arrangement, petrol will be sold at N870 per litre in the South-West, N880 per litre in the North, and N890 per litre in the South-South and South-East at MRS stations. At AP (Ardova Petroleum) and Heyden stations, the price will be N865 per litre in Lagos, N875 per litre in the South-West, N885 per litre in the North, and N895 per litre in the South-South and South-East.
The company assured Nigerians of a steady supply of petroleum products, with adequate reserves to meet domestic demand and a surplus available for export to boost foreign exchange earnings. It also urged fuel marketers to fully support the initiative, ensuring that consumers benefit directly from the price reduction.
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