In a major move to ease the financial burden on Nigerians, Dangote Petroleum Refinery has announced a ₦65 reduction in the ex-depot price of petrol (Premium Motor Spirit, PMS), bringing the price down from ₦890 to ₦825 per litre. The new price takes effect from 27th February 2025.
Strategic Relief Amid Economic Pressures
This price adjustment comes ahead of the Ramadan season, providing essential relief to consumers while aligning with President Bola Ahmed Tinubu’s economic recovery policies. The refinery stated that the decision is aimed at reducing the cost of living and stabilising fuel prices across the country.
This marks the second price cut in February 2025, following an earlier ₦60 reduction earlier in the month. In December 2024, Dangote had also slashed PMS prices by ₦70.50 per litre, from ₦970 to ₦899.50, ensuring stable fuel supply during the yuletide season.
Retail Fuel Prices Across Nigeria
Following this latest reduction, Dangote petrol will be available at the following retail prices across its partners’ stations:
- MRS filling stations:
- ₦860 per litre in Lagos
- ₦870 per litre in the South-West
- ₦880 per litre in the North
- ₦890 per litre in the South-South and South-East
- Ardova Petroleum (AP) and Heyden stations:
- ₦865 per litre in Lagos
- ₦875 per litre in the South-West
- ₦885 per litre in the North
- ₦895 per litre in the South-South and South-East
Commitment to Affordable Energy
Dangote Refinery has reassured Nigerians of a steady fuel supply, with sufficient reserves to meet demand and generate foreign exchange earnings for the country. The refinery called on marketers to support the initiative, ensuring that consumers benefit directly from the price cuts.
This collective effort aligns with President Bola Ahmed Tinubu’s economic agenda to make Nigeria self-sufficient in refined petroleum products and establish the country as a leading oil-exporting hub.
With this latest price reduction, Nigerians can expect some relief from rising fuel costs, offering a much-needed boost to transportation, businesses, and overall economic stability.