In a significant move for Nigeria’s energy sector, Dangote Petroleum Refinery has announced a reduction in the ex-depot price of Premium Motor Spirit (PMS), or petrol.
The new price is now N835 per litre, down from N865, reflecting a 3.5% decrease. This marks the second price cut in recent weeks and follows a drop in global crude oil prices, now at $64 per barrel, down from over $70 earlier this month.
Previously, the refinery had lowered the price from N880 to N865 per litre. However, despite these reductions, many oil marketers have not yet passed on the savings to consumers at the pump.
With a daily processing capacity of 650,000 barrels, the Dangote Refinery is reshaping Nigeria’s fuel supply landscape, positioning itself as a key player in efforts toward energy independence and price stability.
