Fuel
Dangote Refinery continues price war with NNPCL, reduces fuel price to N889.50
The apparent price competition between Dangote Petroleum Refinery and the Nigerian National Petroleum Company Limited, NNPCL, deepened as the former reduced the price of Premium Motor Spirit (PMS), commonly known as petrol, to ₦899.50 per litre (approximately $0.58 per litre).
The announcement by Dangote Refinery, on Thursday, December 19, 2024, six days before Christmas, aimed to provide relief to Nigerians during the holiday season.
Indeed, this marked the second price reduction by Dangote Refinery within a month, as the price was previously lowered to ₦970 per litre on November 24.
The Group Chief Branding and Communications Officer of Dangote Group, Anthony Chiejina, said the reduction is designed to ease transport costs during the festive period.
Also, the refinery has introduced a special offer allowing consumers to purchase an additional litre of fuel on credit for every litre bought with cash, backed by bank guarantees from Access Bank, First Bank, or Zenith Bank.
However, Nigerians await also a price reduction from the NNPCL at its filling stations.
It is not uncommon that Nigerians to often experience fuel scarcity during the December festive season, though this trend has not occurred in recent years.
The current price reduction by Dangote Refinery is intended to provide relief and ensure accessibility to quality petroleum products during the holidays.