Dangote Refinery Cuts Petrol Price by N65 Ahead of Ramadan, Second Reduction This Month

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Dangote Petroleum Refinery has announced a reduction in the ex-depot price of Premium Motor Spirit (PMS), commonly known as petrol, from N890 to N825 per litre, effective February 27, 2025. This marks the second price cut this month, following a N60 reduction on February 1.

In a statement released on Wednesday, the refinery described the latest N65 price reduction as a strategic move aimed at easing economic pressures on Nigerians ahead of the Ramadan season. The adjustment is expected to lower transportation costs and alleviate financial strain on households and businesses.

The refinery also emphasized that the price cut demonstrates support for President Bola Tinubu’s economic reforms. “This strategic price adjustment is designed to provide essential relief to Nigerians in anticipation of the upcoming Ramadan season, while also supporting President Bola Ahmed Tinubu’s economic recovery policy by alleviating the financial burden on the Nigerian populace,” the statement read.

Regional Variations in Pump Prices
The refinery noted that pump prices will vary across its partner retail outlets in different regions:

Lagos: MRS Holdings stations will sell at N860 per litre, while AP (Ardova Petroleum) and Heyden stations will retail at N865.
South-West: MRS will sell at N870, while AP and Heyden stations will sell at N875.
North: MRS stations will sell at N880, and AP and Heyden stations at N885.
South-South and South-East: MRS stations will sell at N890, while AP and Heyden stations will retail at N895.

Dangote Petroleum Refinery assured the public of a steady fuel supply, stating that it has sufficient reserves to meet local demand while maintaining surplus capacity for exports to boost Nigeria’s foreign exchange earnings.

The company called on petroleum marketers to support the price reduction initiative, stressing the importance of ensuring that consumers fully benefit from the adjustment. “This collective action will contribute to the broader economic recovery plan led by His Excellency, President Bola Ahmed Tinubu, who is committed to making Nigeria self-sufficient in refined petroleum products and establishing the country as a leading oil export hub,” the statement added.