Dangote Petroleum Refinery has announced a significant reduction in the ex-depot price of premium motor spirit (PMS), commonly known as petrol, to ₦899.50 per litre. This price adjustment, effective immediately, aims to provide financial relief to Nigerians as they prepare for the holiday season.
Anthony Chiejina, Group Chief Branding and Communications Officer of the Dangote Group, shared the announcement in a statement on Thursday, emphasizing the refinery’s dedication to addressing the transportation cost burden faced by Nigerians.
Price Reduction Details
The new price of ₦899.50 per litre reflects a continued effort by the privately-owned refinery to lower fuel costs. This follows a previous price cut to ₦970 per litre on November 24.
“Dangote Petroleum Refinery has reduced the price of its Premium Motor Spirit (PMS) product to below ₦900 per litre to provide much-needed relief for Nigerians ahead of the holiday season,” Chiejina said.
This price reduction aligns with Dangote Refinery’s broader commitment to easing the financial strain on Nigerians, particularly during high-demand periods like the festive season.
Holiday Season Special Offer
In addition to the price cut, Dangote Refinery has rolled out an innovative incentive for consumers. Customers paying cash for petrol purchases will be eligible to buy an additional litre on credit, secured by a bank guarantee from Access Bank, First Bank, or Zenith Bank.
“To alleviate transport costs during this holiday season, Dangote Refinery is offering a holiday discount on PMS. From today, our petrol will be available at ₦899.50 per litre at our truck loading gantry or Single Point Mooring (SPM) facility,” Chiejina explained.
This initiative is expected to ease fuel accessibility and affordability, particularly for transport operators who play a critical role during the holiday rush.
Quality Assurance and Market Impact
Chiejina also highlighted the significant positive impact of Dangote Refinery’s operations on the Nigerian fuel market. He emphasized the refinery’s commitment to providing high-quality, environmentally friendly, and engine-compatible fuel.
The operations of Dangote Refinery have disrupted the long-standing dependence on substandard and blended imported fuel products that previously dominated the Nigerian market. These low-quality imports often posed health risks, damaged machinery, and harmed the environment.
“We are setting a new standard in product quality and service delivery, ensuring Nigerians have access to fuel that meets global standards,” Chiejina added.
Easing the Financial Burden
The reduction in petrol prices is expected to have a direct impact on transportation costs, which often see a spike during the festive season. This move by Dangote Refinery offers a welcome reprieve for citizens who rely on affordable fuel for personal and commercial transportation.
By introducing competitive pricing and consumer-centric initiatives, the refinery aims to improve the overall affordability of fuel and reduce the financial strain on Nigerians.
Setting a New Benchmark
Dangote Refinery’s approach demonstrates a commitment not just to profitability but to addressing the challenges faced by its primary market. By lowering prices and offering flexible payment options, the refinery is positioning itself as a leader in both quality and service delivery within Nigeria’s petroleum sector.
This development also reflects a significant milestone for the refinery, Africa’s first privately owned and largest petroleum processing facility. Its operations represent a pivotal shift in Nigeria’s energy landscape, ensuring the country no longer serves as a dumping ground for low-quality imported fuels.
Conclusion
The reduction in PMS prices to ₦899.50 per litre, coupled with the innovative holiday incentive, underscores Dangote Refinery’s commitment to supporting Nigerians during challenging times. This initiative is expected to ease transportation costs during the festive period while reinforcing the refinery’s reputation as a game-changer in the Nigerian petroleum industry.
As the holiday season approaches, the move is likely to provide much-needed relief for households, businesses, and transport operators, further strengthening Dangote Refinery’s role in shaping the future of energy in Nigeria.
