Dangote Refinery Takes Bold Steps to Reduce Petrol Prices Amid Global Market Changes.
By Our Correspondent.
In a significant move aimed at alleviating economic pressure on Nigerians, Dangote Petroleum Refinery has announced a reduction in the ex-depot price of Premium Motor Spirit (PMS), widely known as petrol. Effective from Saturday, the price will decrease from N950 to N890.
The decision comes in light of favorable developments in the global energy landscape, coupled with a notable decline in international crude oil prices.
Anthony Chiejina, the Group Chief Branding and Communications Officer, stated that this adjustment follows a modest price increase earlier in January due to rising crude costs.
The refinery believes that this price cut will not only make petrol more accessible but also generate a positive ripple effect across the economy, reducing the costs of goods and services, and ultimately lowering the overall cost of living for citizens.
Furthermore, Dangote Refinery has urged marketers nationwide to ensure these benefits reach consumers, emphasizing its commitment to supporting Nigeria’s economic revival under President Bola Tinubu’s leadership.
This initiative is part of a broader strategy to enhance Nigeria’s self-sufficiency in refined petroleum products and establish the nation as a prominent oil export hub.
