The Dangote Refinery has announced reduction in the price of petrol to retailers from N890 per litre to N825 per litre, while this will be the second time the company has reduced the price of its petrol in February
Penpushing reports that the announcement was contained in a statement, which explained that the price adjustment will take effect from February 27, 2025, adding that the price adjustment is designed to provide essential relief to Nigerians in celebration of the Ramadan season.
“Dangote Petroleum Refinery & Petrochemicals has slashed the price of Premium Motor Spirit (PMS), or petrol, for the second time this month. It has cut N65 off the previous price of N890, bringing it down to N825 per litre at the gantry (ex-depot). This follows a N60 reduction on 1 February’, the statement said
‘The ex-depot price has thus decreased from N950 per litre in January to the current price of N825 per litre, representing a reduction of N125 per litre within 26 days. This recent price reduction will also ensure that Nigerians pay between N860 and N865 per litre for petrol at the pump in Lagos,” the statement added.
Penpushing further reports that the company stated that this strategic price adjustment is designed to provide essential relief to Nigerians, while also supporting President Bola Tinubu’s economic recovery policy by alleviating the financial burden on the Nigerian populace.
The company it is recalled earlier in the month announced a reduction of its selling price of petrol to retailers from N950 per litre to N890 per litre, at the time, it said the price reduction was a direct response to the positive outlook within the global energy and gas markets, as well as the recent reduction in international crude oil prices.
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