The Dangote Petroleum Refinery has announced a two percent reduction in the price of Premium Motor Spirit also known as petrol, lowering it from N990 per litre to N970.
This gesture, according to the refinery, is a token of appreciation to Nigerians for their support and an acknowledgment of the government’s role in fostering domestic enterprise.
In a statement issued on Sunday, the Group Chief Branding and Communications Officer for Dangote Petroleum Refinery, Anthony Chiejina, emphasized the company’s commitment to quality and sustainability while expressing gratitude.
“Dangote Petroleum Refinery has effected a reduction in the prevailing price of its PMS from N990 per litre to N970 per litre for the marketers,” he said. “As the year comes to an end, this is our way of appreciating the good people of Nigeria for their unwavering support in making the refinery a dream come true. In addition, this is to thank the government for its support as this will complement the measures put in place to encourage domestic enterprise for our collective wellbeing.”
Chiejina reassured Nigerians of the refinery’s focus on producing high-quality, environmentally friendly fuel while striving to meet and exceed domestic demand.
“We are determined to keep ramping up production to meet and surpass our domestic fuel consumption, thus dispelling any fear of a shortfall in supply,” he added.
Meanwhile, oil marketers under the Petroleum Products Retail Outlets Owners Association of Nigeria have initiated negotiations with Dangote Refinery.
Their goal is to establish concrete terms for lifting petrol from the $20 billion facility, ensuring clarity and efficiency in operations.
Speaking in an interview with newsmen, , the Chairman of PETROAN, Billy Gillis-Harry, stressed the need for a formalized agreement to eliminate operational bottlenecks.
“We have started negotiating with the refinery. It will not be one of those deals. We need concrete terms to be discussed, agreed, and signed for the business relationship. We need to agree on daily, weekly, or monthly quantity, price, and logistics,” he stated.
Gillis-Harry explained that the association aims to address delays and other inefficiencies that drive up operational costs, ultimately improving the ease of doing business in the downstream sector.
The Major Energy Marketers Association of Nigeria has already commenced direct lifting of PMS from the refinery.
This development follows the Federal Government’s recent approval for marketers to lift products directly from the Dangote Refinery, bypassing the Nigerian National Petroleum Company Limited.
This policy shift is expected to streamline operations, reduce middleman interference, and enhance the availability of fuel across the country.
By leveraging the refinery’s capacity, both PETROAN and MEMAN are set to bolster the downstream sector’s efficiency while fostering better consumer experiences.
The Dangote Petroleum Refinery, which is Africa’s largest single-train refinery, continues to position itself as a critical player in Nigeria’s energy security and economic development, with stakeholders optimistic about its long-term impact on the nation’s petroleum sector.
