Just In: Dangote Refinery Low Ex-Depot Price of Petrol

The Dangote Petroleum Refinery has announced a reduction in the ex-depot price of premium motor spirit (PMS), or petrol, to N970 per litre for oil marketers. This marks a decrease from the previously set price of N990 per litre earlier this month, according to a statement released on Sunday.

The price cut will save marketers about N20 on every litre of petrol purchased from the refinery, located in Lekki. Anthony Chiejina, the Chief Branding and Communications Officer for Dangote Group, explained that the reduction is a gesture of appreciation to Nigerians for their support in making the refinery a reality.

Additionally, the move is intended to thank the government for its support, with the refinery aiming to complement measures that promote domestic enterprise for the collective benefit of the nation.

Chiejina assured that while the refinery is focused on quality, it will continue to provide environmentally friendly and sustainable products. He also emphasized the refinery’s commitment to increasing production to meet and exceed domestic fuel consumption, alleviating any concerns about supply shortages.

In related news, on November 11, the Independent Petroleum Marketers Association of Nigeria (IPMAN) reached an agreement with Dangote Refinery to lift petrol and diesel directly from the plant, ensuring a stable and affordable supply of PMS products across the country.