Dangote cuts petrol price to ₦860 in Lagos

Dangote cuts petrol price to ₦860 in Lagos

Dangote Petroleum Refinery has announced a reduction in the ex-depot (gantry) price of Premium Motor Spirit (PMS), commonly referred to as petrol, by ₦65.00, lowering the price from ₦890 to ₦825 per litre, effective from 27th February 2025.

Under the new arrangement, buyers in Lagos will purchase fuel at ₦860 per litre at MRS outlets.

According to Dangote, the price adjustment is aimed at providing essential relief to Nigerians in anticipation of the upcoming Ramadan season, while also supporting President Bola Ahmed Tinubu’s economic recovery policy by easing the financial burden on the Nigerian populace.

Newsmen report that Dangote has previously reduced the prices of petrol and other refined petroleum products several times.

This marks the second price reduction of PMS in February 2025, following a previous decrease of ₦60.00 earlier in the month.

Additionally, in December 2024, during the yuletide period, the refinery reduced the price of PMS by ₦70.50, from ₦970 to ₦899.50 per litre, as part of its commitment to easing the cost of living and providing relief to Nigerians during the holiday season.

With the latest reduction, the management of the refinery stated that Nigerians will be able to purchase Dangote petrol at different prices depending on the retail outlet. At MRS Holdings stations, it will sell for ₦860 per litre in Lagos, ₦870 per litre in the South-West, ₦880 per litre in the North, and ₦890 per litre in the South-South and South-East. In AP (Ardova Petroleum) and Heyden stations, the same product will be available for ₦865 per litre in Lagos, ₦875 per litre in the South-West, ₦885 per litre in the North, and ₦895 per litre in the South-South and South-East.

The company assured the public of a consistent supply of petroleum products, with sufficient reserves to meet domestic demand, as well as a surplus for export to enhance the country’s foreign exchange earnings. It called on marketers to support this initiative, ensuring that Nigerians remain the primary beneficiaries of this effort.

Follow the Neptune Prime channel on WhatsApp:

Do you have breaking news, interview request, opinion, suggestion, or want your event covered? Email us at neptuneprime2233@gmail.com