JUST-IN: Dangote Refinery Reduces Petrol, Diesel Prices

The Dangote Petroleum Refinery has announced a reduction in the ex-depot prices of Premium Motor Spirit (PMS), also known as petrol, and Automotive Gas Oil (AGO), commonly known as diesel, as part of efforts to make petroleum products more affordable for consumers.

Under the new pricing structure, the refinery reduced the ex-depot price of petrol by N50 per litre, from N1,215 to N1,165, while the price of diesel was cut by N80 per litre, from N1,650 to N1,570.

In a statement issued on Wednesday by the Dangote Group, the refinery said the price review was aimed at enhancing energy affordability, improving access to refined petroleum products, and supporting economic activities across Nigeria.

According to the company, the move underscores its commitment to providing affordable, high-quality petroleum products to the Nigerian market while ensuring a stable and reliable supply.

The refinery said it remains focused on leveraging operational efficiencies to deliver value to consumers, businesses, and other stakeholders, adding that it would continue to pass on the benefits of improved efficiency whenever market conditions permit.

Dangote Refinery also stated that it continues to play a key role in strengthening Nigeria’s energy security, reducing dependence on imported petroleum products, and supporting the country’s economic development through the supply of world-class refined products.

The statement read in part, “Dangote Petroleum Refinery has announced a reduction in the ex-depot prices of Premium Motor Spirit (PMS) and Automotive Gas Oil (Diesel), reaffirming its commitment to providing affordable, high-quality petroleum products to the Nigerian market.”

It added that the revised prices reflect the refinery’s ongoing efforts to make energy more affordable and improve access to refined petroleum products for Nigerians.