Dangote Petroleum Refinery has announced a reduction in the ex-depot price of Premium Motor Spirit, commonly known as petrol, to N970 per litre from N990/litre.
This price cut will take effect immediately for oil marketers.
In a statement released on Sunday by the Group Chief Branding and Communications Officer of the Dangote Group, Anthony Chiejina, the price adjustment is described as part of the company’s end-of-year efforts to give back to the nation.
“This is our way of appreciating the good people of Nigeria for their unwavering support in making the refinery a dream come true,” the statement read.
Since its inauguration earlier in the year, the Dangote Refinery has been a critical player in Nigeria’s efforts to achieve self-sufficiency in petroleum refining.
The facility, touted as the largest single-train refinery in the world, has significantly bolstered domestic production capacity, reducing dependence on imported petrol.
Chiejina emphasised the refinery’s commitment to maintaining high-quality, environmentally friendly and sustainable products.
“We assure you of the best quality products that are environmentally friendly and sustainable,” he stated.
The statement also reassured Nigerians of the refinery’s ability to meet and exceed domestic fuel consumption needs, quelling fears of potential shortages.
“We are determined to keep ramping up production to meet and surpass our domestic fuel consumption; thus, dispelling any fear of a shortfall in supply,” Chiejina added.
The price reduction is expected to have a ripple effect on the Nigerian economy, particularly in alleviating the financial burden on consumers amid rising inflation.
