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Dangote Refinery Reduces Petrol Price to N970 Per Litre,
Dangote Lowers Prices of fuel to N970
In a positive development for consumers, the Dangote Petroleum Refinery has announced a reduction in the price of Premium Motor Spirit (PMS), commonly known as petrol. Over the weekend, the refinery adjusted the price from ₦990 to ₦970 per litre, marking a 2% decrease.
This move is seen as a small but welcome relief for Nigerians amid ongoing economic challenges. Industry analysts have noted that such price reductions could signal efforts to stabilize fuel costs and ease the financial burden on citizens.
Stay updated with the latest developments in energy and fuel pricing at Nigeria Energy Watch.
Dangote Refinery Reduces Petrol Price as a Token of Appreciation
The Dangote Petroleum Refinery has announced a reduction in the price of Premium Motor Spirit (PMS), also known as petrol, from ₦990 to ₦970 per litre. This gesture, as stated by Anthony Chiejina, the Group Chief Branding and Communications Officer, is a way of expressing gratitude to Nigerians for their support and trust in the refinery.
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Commitment to Quality and Sustainability
In the official statement, Chiejina emphasized:
“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. This also serves as a thank you to the government for its support in fostering domestic enterprise for our collective wellbeing.”
He also reassured the public that the refinery remains committed to delivering high-quality, environmentally friendly, and sustainable petroleum products. The company is determined to ramp up production to meet and surpass Nigeria’s domestic fuel needs, ensuring a steady supply and eliminating fears of shortages.
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PETROAN Engages Dangote Refinery on Supply Terms
Meanwhile, the Petroleum Products Retail Outlets Owners Association of Nigeria (PETROAN) has begun discussions with the Dangote Refinery to establish clear and concrete terms for lifting petrol.
In an interview with Vanguard, Billy Gillis-Harry, Chairman of PETROAN, confirmed:
“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. This includes daily, weekly, or monthly supply quantities, pricing, and logistics.”
Looking Ahead
This price reduction reflects Dangote Refinery’s dedication to supporting Nigerians while enhancing collaboration with key stakeholders in the energy sector. The ongoing discussions with PETROAN highlight efforts to ensure transparency and efficiency in fuel distribution across the country.
Emphasizing Clarity to Improve Business Efficiency
To enhance the ease of doing business in Nigeria, stakeholders are calling for clear and transparent processes in operational agreements.
This move aims to minimize unnecessary inconveniences, such as delays, which often lead to higher operational costs.
“Everything must be clearly defined and communicated,” an industry leader stated.
“This ensures smoother operations, reduces inefficiencies, and ultimately creates a business environment that fosters growth and competitiveness.”
By eliminating obstacles and streamlining procedures, businesses can focus on delivering value, reducing costs, and contributing to Nigeria’s economic progress.
Members of the Major Energy Marketers Association of Nigeria (MEMAN) have begun directly sourcing petrol from the Dangote Refinery.
This follows the Federal Government’s approval, allowing marketers to bypass the Nigerian National Petroleum Company Limited (NNPCL) and obtain fuel directly from the refinery.
This move is expected to improve the efficiency of fuel distribution and reduce reliance on the NNPCL, potentially benefiting both the industry and consumers.
