Dangote Petroleum Refinery on Wednesday reduced its ex-depot price of Premium Motor Spirit, also known as petrol, to N1,165 per litre.
The new rate represented a cut of N50 from the previous price of N1,215 per litre. At the same time, the refinery lowered the ex-depot price of Automotive Gas Oil, or diesel, from N1,650 to N1,570 per litre. That change amounted to an N80 reduction.
The Dangote Group released a statement announcing the adjustments.
The refinery said the price review aimed to enhance energy affordability. It also sought to improve access to refined petroleum products and support economic activities across Nigeria.
According to the statement, the move reflected the company’s commitment to providing “affordable, high-quality petroleum products to the Nigerian market.”
The company added that it remained committed to ensuring stable supply. It said it would leverage operational efficiencies to deliver value to consumers, businesses and stakeholders.
The statement continued, “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. Under the new pricing structure, the refinery has reduced the ex-depot price of PMS to N1,165 per litre, down from N1,215 per litre, representing a reduction of N50 per litre.”
Officials noted that the refinery would continue to pass on the benefits of improved operational efficiencies to consumers whenever market conditions permitted.
The company also stated that it continued to play a pivotal role in strengthening Nigeria’s energy security. It aimed to reduce reliance on imports and support national economic development through the supply of world-class petroleum products.
