The Dangote Petroleum Refinery (DPR) has, again, announced a further crash in the price of its Premium Motor Spirit (PMS), otherwise known as petrol effective from today. This latest reduction in the ex depot price of the product represents a N65 cut from the previous price of N890 to N825 per litre.

This was contained in a statement issued by the firm yesterday. The latest action by DPR marked the second price reduction of PMS this month following a previous decrease of N60.00 earlier in the month.

It stated that price adjustment was designed to provide essential relief to Nigerians in anticipation of the upcoming Ramadan fasting.

It added that it was also done to support the economic recovery policy of President Bola Tinubu by alleviating the financial burden on the Nigerian populace.

“Dangote Petroleum Refinery has announced a reduction in the ex-depot (gantry) price of Premium Motor Spirit (PMS), commonly referred to as petrol, by N65.00, from N890 to N825 per litre, effective from 27th February 2025.

“This strategic price adjustment is designed to provide essential relief to Nigerians in anticipation of the upcoming Ramadan season, while also supporting President Bola Ahmed Tinubu’s economic recovery policy by alleviating the financial burden on the Nigerian populace.

“It is important to note that Dangote Petroleum Refinery has consistently lowered the prices of petrol and other refined petroleum products to the benefit of Nigerians.

“This marks the second price reduction of PMS in February 2025, following a previous decrease of ₦60.00 earlier in the month.

“Additionally, in December 2024, during the Yuletide period, the refinery reduced the price of PMS by ₦70.50, from ₦970 to ₦899.50 per litre, as part of its commitment to easing the cost of living and providing relief to Nigerians during the holiday season.

“This reduction has positively impacted the overall cost of living, benefiting various sectors of the economy and has also ensured that Nigerians did not experience the perennial fuel scarcity and price hikes typically associated with the yuletide season.

“Nigerians will be able to purchase the high-quality Dangote petrol at the following prices in all our partners’ retail outlets:

“For MRS Holdings stations, it will sell for ₦860 per litre in Lagos, ₦870 per litre in the South-West, ₦880 per litre in the North and ₦890 per litre in the South-South and South-East respectively.

“The same product will also be available at the following prices in AP (Ardova Petroleum) and Heyden stations: ₦865 per litre in Lagos, ₦875 per litre in the South-West, ₦885 per litre in the North and ₦895 per litre in the South-South and South-East,” it was stated in the press statement.

Dangote Petroleum Refinery assured the public of a consistent supply of petroleum products, with sufficient reserves to meet domestic demand, as well as a surplus for export to enhance the country’s foreign exchange earnings.

The company called on marketers to support the initiative, ensuring that Nigerians remain the primary beneficiaries of this effort.

“This collective action will contribute to the broader economic recovery plan led by His Excellency, President Bola Ahmed Tinubu, who is committed to making Nigeria self-sufficient in refined petroleum products and establishing the country as a leading oil export hub,” the statement added.