In a significant move to ease the burden on Nigerians and stabilise fuel prices, Dangote Petroleum Refinery has further reviewed the price of Premium Motor Spirit (PMS). The new pricing structure sees:
- Coastal (Shipments to vessels): ₦780 per litre
- Gantry (Truck loading): ₦825 per litre
Economic Relief for Nigerians
This reduction follows the refinery’s recent ex-depot price cut from ₦890 to ₦825 per litre, reinforcing Dangote’s commitment to making petroleum products more affordable. The latest move is expected to lower transportation costs, stabilise inflation, and ease financial strain on consumers.
The company stated that this price adjustment aligns with President Bola Ahmed Tinubu’s economic reforms aimed at ensuring energy security and self-sufficiency in Nigeria’s oil and gas sector.
Impact on the Market
With this new pricing model, independent marketers and transporters will benefit from lower acquisition costs, potentially leading to a reduction in fuel prices at retail stations. The coastal price of ₦780 per litre for shipments to vessels is expected to increase competitiveness in the oil market, making Dangote’s refined products more attractive for bulk buyers.
Commitment to Fuel Availability
Dangote Petroleum Refinery reassured Nigerians that there is sufficient supply to meet demand, calling on marketers to pass on the price reduction to consumers. The refinery also emphasised its dedication to supporting Nigeria’s economic recovery by ensuring a steady supply of refined petroleum products at competitive prices.
As fuel prices drop, Nigerians anticipate relief in transportation and logistics costs, offering hope for economic stability and reduced inflationary pressure in the coming months.