By Muhammad B. Muhammad
In a continued effort to ease the cost of fuel across Nigeria, Dangote Refinery has once again reduced the ex-depot price of Premium Motor Spirit (PMS), commonly known as petrol, from N840 to N820 per litre. The new pricing takes effect immediately.
This marks the second price slash within a week. Just days ago, the refinery had lowered the ex-depot rate from N880 to N840 per litre, reflecting its response to market dynamics and commitment to affordability.
According to Mr. Anthony Chiejina, Group Chief Branding and Communications Officer of Dangote Industries, the latest adjustment is aimed at enhancing access to quality fuel at competitive prices across the country.
“PMS price has been reduced from N840 to N820 per litre effective immediately,” he announced in Lagos.
The initial price drop was linked to volatility in the global crude oil market, driven in part by a 12-day geopolitical conflict in the Middle East which spiked international crude prices. Despite these challenges, Dangote Refinery continues to prioritize affordability and supply stability.
Several major oil marketers including MRS, Heyden, Ardova (AP), Hyde, Optima, and Techno Oil will reflect the revised price across their retail stations. Additionally, more independent marketers have joined Dangote’s growing distribution network.
New partners include TotalEnergies, Garima Petroleum, Sunbeth Energies, Sobaz Nigeria Ltd., Virgin Forest Energy, Sixxco Oil Ltd., N.U. Synergy Ltd., Soroman Nigeria Ltd., Jezco Oil Nigeria Ltd., Jengre, Cocean, Kifayat, Triumph Golden, Sifem Global, Riquest, Mamu Oil, and others.
As the largest single-train refinery in the world, Dangote Refinery is steadily expanding its national footprint with a goal of increasing domestic fuel access and ensuring price stability.
In a major investment move, the company recently disclosed the deployment of 4,000 Compressed Natural Gas (CNG)-powered trucks for the distribution of petroleum products nationwide.
This initiative, valued at over N720 billion, is projected to save Nigerians over N1.7 trillion annually and absorb more than N1.07 trillion in distribution costs.
According to the management, the initiative is designed to significantly reduce logistics expenses for fuel marketers and large-scale users.
It is also expected to help lower pump prices, drive down inflation, and benefit over 42 million Micro, Small and Medium Enterprises (MSMEs) by cutting energy costs and boosting profit margins.
Beginning August 15, Dangote Refinery will commence direct delivery of petrol and diesel to filling stations, industrial sites, and other bulk consumers.
Sahel Reporters News
