In a move to ease the financial burden on Nigerians and promote nationwide price stability, the Dangote Petroleum Refinery has announced a downward review of petrol pump prices across the country.
According to the revised pricing template, the new rates for Premium Motor Spirit (PMS), also known as petrol, now range from ₦875 to ₦905 per litre, depending on the region.
The updated pricing structure, which reflects a ₦15 reduction per litre across all partner retail outlets, affects all major fuel marketers currently in partnership with the refinery, including MRS, Ardova, Heyden, Optima Energy, Techno Oil, and Hyde Energy, and is expected to bring some relief to consumers grappling with economic pressures.
According to a detailed regional breakdown, petrol will now sell at ₦875 per litre in Lagos, ₦885 in the South-West, ₦895 in the North-West and North-Central, and ₦905 in the South-South, South-East, and North-East regions, marking a uniform decrease from the previous prices of ₦890 in Lagos and ₦920 in the country’s outer zones.
This development follows the naira-for-crude supply arrangement introduced recently, which improved operational efficiency and allowed the 650,000-barrels-per-day Lekki-based refinery to adjust its pricing model in favour of the Nigerian public.
In a statement signed by its Group Chief Branding and Communications Officer, Anthony Chiejina, the refinery explained that the decision to lower pump prices is rooted in its commitment to supporting the Nigerian economy while maintaining stable and affordable fuel rates amid fluctuating global oil prices and domestic economic challenges.
While reassuring the public of its intention to maintain price stability in the coming months, the company emphasized that it would continue to implement policies that promote fair pricing, energy security, and consumer welfare across the country.
