Dangote Refinery has again reduced its ex-depot price of Premium Mo-tor Spirit (PMS), commonly known as petrol, within a week from N840 per litre to N820 per litre, effective immediately.
It should be noted that last week, the company reduced its ex-depot price from N880 to N840 per litre.
With the assurance of a steady supply of petroleum products, more independent marketers have joined the growing list of distributors retail-ing Dangote Refinery’s high-quality petroleum products across the coun-try.
Dangote Group’s spokesperson, Mr Anthony Chiejina, confirmed the price adjustment in Lagos, stating,
“PMS price has been reduced from N840 to N820 per litre effective immediately.
“The previous reduction to N840 per litre had followed global crude oil market volatility, particularly dur-ing the 12-day geopolitical crisis in the Middle East, which pushed up crude oil prices.
“The refinery’s existing partners, MRS, Heyden, Ardova (AP), Hyde, Optima, and Techno Oil, are expect-ed to reflect the new pricing at their retail outlets.”
Additionally, several new mar-keting companies have joined Dan-gote’s distribution network. These include TotalEnergies, Garima Pe-troleum, Sunbeth Energies, Sobaz Nigeria Ltd., Virgin Forest Energy, Sixxco Oil Ltd., N.U. Synergy Ltd., and Soroman Nigeria Ltd. Others on the growing list are Jezco Oil Nige-ria Ltd., Jengre, Cocean, Kifayat, Triumph Golden, Sifem Global, Ri-quest, and Mamu Oil.
The Dangote Refinery, the larg-est single-train refinery in the world, continues to expand its domestic fuel distribution footprint, offering com-petitive pricing and improving ac-cess to refined products across Ni-geria.
The refinery recently announced that it has invested over N720 billion to implement its initiative of deploy-ing 4,000 Compressed Natural Gas-powered trucks for the nationwide distribution of petroleum products, saying it is expected to save Nigeri-ans over N1.7 trillion annually.
The management said, “This step will allow the refinery to absorb over N1.07 trillion annually in fuel distri-bution costs. The mega refinery said the initiative is also poised to signif-icantly benefit over 42 million Mi-cro, Small and Medium Enterprises (MSMEs) by reducing energy costs and enhancing profitability.”
