Dangote Refinery Cuts Petrol Prices Again, Bringing Relief to Nigerians

For the second time in February 2025, Dangote Petroleum Refinery has reduced the ex-depot price of premium motor spirit (PMS), or petrol, bringing it down from N890 to N825 per litre. This N65 per litre decrease follows an earlier reduction of N60 per litre on February 1, 2025. The new price adjustment comes as a part of a series of measures aimed at easing the financial burden on Nigerians, particularly in light of the upcoming Ramadan season.

With this change, petrol prices at the pump in Lagos are expected to range from N860 to N865 per litre. The reduction brings the price of petrol closer to the N950 per litre price seen in January 2025, with a total drop of N125 per litre over the past 26 days. The move is part of Dangote Refinery’s ongoing efforts to contribute to the nation’s economic recovery initiatives and provide much-needed relief to consumers.

This recent price adjustment is not the first time the refinery has made such a move. During the festive season in December 2024, Dangote Refinery reduced petrol prices by N70.50, from N970 to N899.50 per litre, helping to alleviate the strain on household budgets during a time when fuel prices typically rise. The refinery’s decision to lower prices consistently reflects its commitment to supporting Nigerians by providing stable, affordable fuel.

Dangote Petroleum Refinery, Africa’s largest privately owned refinery, has a refining capacity of 650,000 barrels per day and has been instrumental in ensuring a steady supply of fuel across the country. It has also been key in preventing fuel shortages and price surges, especially during peak demand periods like the holiday seasons. With strategic distribution partnerships, the refinery ensures that Nigerians across different regions can access fuel at competitive prices.

The refinery also emphasized that its reduced prices and steady fuel supply are in line with President Bola Ahmed Tinubu’s goal of making Nigeria self-sufficient in refined petroleum products. In addition to domestic consumption, the refinery exports products to global markets, contributing to Nigeria’s foreign exchange earnings. The refinery is currently holding over 500 million litres of petrol in storage, ensuring that the nation’s fuel needs are met even during high-demand periods.

As Dangote Refinery continues to adjust its prices, the company has urged petroleum marketers to support the initiative to ensure that all Nigerians benefit from lower fuel costs. The ongoing price cuts are viewed as a positive step in stabilizing the nation’s fuel market and contributing to the broader economic recovery efforts spearheaded by the Nigerian government.