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Dangote Petroleum Refinery has announced a reduction in the ex-depot price of Premium Motor Spirit (PMS), commonly known as petrol, from ₦890 to ₦825 per litre, effective February 27, 2025.
The ₦65 price cut was confirmed in a statement released by the refinery on Wednesday.
Under the revised pricing structure, fuel will be sold at ₦860 per litre at MRS outlets in Lagos.
The statement further detailed regional pricing, with MRS Holdings stations set to offer petrol at ₦860 per litre in Lagos, ₦870 in the South-West, ₦880 in the North, and ₦890 in the South-South and South-East. Similarly, Ardova Petroleum (AP) and Heyden stations will retail the product at ₦865 in Lagos, ₦875 in the South-West, ₦885 in the North, and ₦895 in the South-South and South-East.
Dangote Refinery assured the public of a stable fuel supply, emphasizing that domestic demand would be met while surplus production would be allocated for export to strengthen Nigeria’s foreign exchange reserves.
The company called on fuel marketers to support the initiative to ensure Nigerians benefit from the price adjustment.
It explained that the reduction was intended to provide financial relief ahead of the Ramadan season and align with President Bola Ahmed Tinubu’s economic recovery strategy.
This marks the refinery’s second petrol price reduction in February 2025, following an earlier ₦60 decrease at the beginning of the month.
In December 2024, during the festive season, the refinery had also lowered PMS prices by ₦70.50, reducing the cost from ₦970 to ₦899.50 per litre to help ease living expenses for Nigerians.