BREAKING: Dangote Cuts Petrol Price to N825/Litre for Marketers
For the second time this month, Dangote Petroleum Refinery has announced a reduction in the ex-depot price of Premium Motor Spirit (PMS), commonly known as petrol. The new price has dropped from N890 to N825 per litre, following a previous N60 reduction on February 1. This latest price cut is aimed at providing relief to Nigerians, especially as the Ramadan season approaches, and supports President Bola Tinubu’s economic recovery plan, the company stated on Wednesday.
With this price reduction, pump prices in Lagos are expected to range between N860 and N865 per litre. The new ex-depot price reflects a decrease from N950 per litre in January, marking a N125 reduction over just 26 days.
Starting from Thursday, February 27, the adjustment will take effect, offering much-needed financial relief for Nigerians. “This strategic price reduction is intended to provide essential relief to Nigerians during Ramadan while aligning with President Bola Tinubu’s economic recovery policy by easing the financial burden on the people,” said the company in a statement.
The refinery emphasized its ongoing efforts to reduce the prices of petrol and other refined petroleum products for the benefit of Nigerians. This price cut marks the second reduction in February 2025, following the earlier N60 decrease. In December 2024, Dangote Petroleum Refinery also reduced the price of PMS by N70.50, from N970 to N899.50 per litre, to help ease the cost of living during the holiday season.
