Dangote Petroleum Refinery has announced a reduction in the ex-depot price of Premium Motor Spirit (PMS), commonly known as petrol, to N825 per litre. This latest price cut was disclosed in a statement on Wednesday by Esan Sunday, Head of Media Relations and Branding Communications at Dangote Group.

The adjustment comes just over three weeks after the refinery lowered petrol prices from N950 to N890 per litre. With this new reduction, the ex-depot price has dropped by N125 since January, when it stood at N950 per litre. According to the statement, the new pricing will enable Nigerians to purchase petrol at pump prices ranging between N860 and N865 per litre in Lagos.

The refinery attributed the price reduction to its commitment to easing the financial burden on Nigerians, particularly during the Ramadan season.

This marks the second time in February 2025 that Dangote Refinery has reduced PMS prices, following an earlier cut of N60 at the beginning of the month. Additionally, in December 2024, the refinery lowered petrol prices by N70.50, from N970 to N899.50 per litre, as part of its efforts to support Nigerians during the holiday season.

The refinery emphasized that its consistent price reductions have positively impacted the cost of living and benefited various sectors of the economy. It also highlighted the high quality of its refined petroleum products, which have gained popularity both domestically and internationally.

Dangote Refinery assured the public of a steady supply of petroleum products, with sufficient reserves to meet local demand and a surplus for export, thereby contributing to the country’s foreign exchange earnings. The refinery urged marketers to support the initiative, ensuring that Nigerians remain the primary beneficiaries of its efforts.

The refinery’s products are distributed nationwide through key partners, including MRS Holdings, Ardova Petroleum (AP), and Heyden.