For the second time this month, Dangote Petroleum Refinery & Petrochemicals has reduced the price of Premium Motor Spirit (PMS), commonly known as petrol. The ex-depot price has been lowered by ₦65, bringing it down from ₦890 to ₦825 per litre. This follows an earlier ₦60 reduction on February 1.
With this latest price cut, the ex-depot cost of petrol has fallen from ₦950 per litre in January to ₦825 per litre, marking a ₦125 reduction within 26 days. As a result, consumers in Lagos can expect to pay between ₦860 and ₦865 per litre at filling stations.
According to a statement from Africa’s first privately owned petroleum refinery, this price reduction is set to take effect from Thursday, February 27 and aims to ease the financial burden on Nigerians. “This strategic price adjustment is intended to provide essential relief to Nigerians during the Ramadan season while also supporting President Bola Ahmed Tinubu’s economic recovery policies.”
The refinery emphasized that it remains committed to lowering fuel prices to benefit Nigerians. In December 2024, during the Christmas and New Year period, Dangote Refinery had already reduced PMS prices by ₦70.50, dropping from ₦970 to ₦899.50 per litre to help ease the cost of living.
These consistent price reductions have positively affected the overall cost of living and economic sectors while ensuring fuel availability, even during periods that typically experience scarcity and price surges.
Dangote Petroleum Refinery has once more stated that its high-quality petroleum products, popular in both domestic and international markets, will remain available across Nigeria. The company also reassured the public of sufficient reserves to meet national demand and surplus for export.
To enhance distribution, the refinery has partnered with major oil marketers, including MRS Holdings, AP (Ardova Petroleum), and Heyden, ensuring that Dangote petrol remains accessible at competitive rates.
Nigerians can expect the following petrol prices at major retail outlets:
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MRS Holdings Stations:
- Lagos: ₦860 per litre
- South-West: ₦870 per litre
- North: ₦880 per litre
- South-South & South-East: ₦890 per litre
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AP (Ardova Petroleum) & Heyden Stations:
- Lagos: ₦865 per litre
- South-West: ₦875 per litre
- North: ₦885 per litre
- South-South & South-East: ₦895 per litre
In addition to stabilizing the local market, Dangote Refinery continues to expand its export footprint, recently supplying jet fuel to Saudi Arabia and distributing refined petroleum products to markets in Europe, America, and Asia.
With a refining capacity of 650,000 barrels per day, the refinery far exceeds Nigeria’s average daily fuel demand of 385,000 barrels, reinforcing the country’s push toward self-sufficiency in refined petroleum products.
As Nigeria continues its journey toward economic recovery and energy independence, Dangote Refinery has called on fuel marketers to support the initiative and ensure that the benefits of these price reductions reach consumers. “This collective effort aligns with President Bola Ahmed Tinubu’s commitment to making Nigeria self-sufficient in refined petroleum products and positioning the country as a major oil export hub.”
With over 500 million litres of petrol currently in storage, Dangote Refinery remains a key player in Nigeria’s energy sector, helping stabilize fuel supply, reduce costs, and drive economic progress.
