By Ayomide Otitoju
The Dangote Petroleum Refinery & Petrochemicals has announced a fresh reduction of N15 in the price of Premium Motor Spirit (PMS), marking another step in its ongoing efforts to make fuel more affordable for Nigerians.
Following the latest cut, PMS will now be sold at N875 per litre in Lagos, N885 in the South West, N895 in the North West and North Central, and N905 in the South East, South South, and North East regions. These new prices will be available through the refinery’s distribution partners, including MRS, AP (Ardova), Heyden, Optima Energy, Techno Oil, and Hyde Energy.
The refinery urged other marketers to join its growing network of partners as part of a broader effort to support President Bola Tinubu’s “Nigeria First” policy, which prioritizes the use of locally-produced goods and services.
Since beginning operations, the Dangote Refinery has implemented a series of price reductions aimed at easing the financial burden on consumers. In February 2025, the company introduced two consecutive petrol price cuts totaling N125 per litre, followed by another reduction of about N45 in April. Prices of other key petroleum products, such as diesel and liquefied petroleum gas (LPG), have also been significantly reduced, impacting transportation, industrial production, and household energy use across the country.
Reaffirming its commitment to price stability amid global oil price volatility, the refinery noted its role in promoting domestic energy security and economic resilience.
“By refining petroleum products domestically at the world’s largest single-train refinery, we are proud to make a substantial contribution to Nigeria’s energy security, foreign exchange savings, and overall economic resilience—aligning with President Bola Tinubu’s Renewed Hope Agenda,” the company said in a statement. It also credited the Federal Government’s “Naira-for-Crude” initiative as a key enabler of its consistent price reductions.
The refinery assured Nigerians of a steady supply of petroleum products, with sufficient stock to meet domestic demand and surplus volumes available for export to boost the country’s foreign exchange earnings.
Meanwhile, the refinery’s founder, Aliko Dangote, received international recognition on Tuesday after being named in the inaugural TIME100 Philanthropy list for 2025, which honours 100 of the world’s most influential philanthropic leaders. Dangote was acknowledged for his foundation’s impact across Africa, where it spends an average of $35 million annually on various initiatives. He joins global philanthropic figures such as Michael Bloomberg, Oprah Winfrey, Warren Buffett, and Melinda Gates, all named as “Titans” on the list.
