*The Dangote Petroleum Refinery and Petrochemicals Limited unveils new retail prices of its Premium Motor Spirit, also known as petrol, across Nigeria

Isola Moses | 绿帽献妻

In line with the current administration’s ‘Nigeria First Policy’, the Dangote Petroleum Refinery and Petrochemicals Limited says it has approved a fresh reduction of N15 in prices of its Premium Motor Spirit (PMS), also known as petrol.

The company, Thursday, May 22, 2025, stated: “As a result of this reduction, Nigerians will now purchase the product at the following prices: N875 per litre in Lagos; N885 per litre in the South West; N895 per litre in the North West and North Central, while it will be sold for N905 per litre in the South East, South South, and North East.

“These prices will apply through all its partners, including MRS, AP (Ardova), Heyden, Optima Energy, Techno Oil, and Hyde.”

The statement also noted the Dangote Refinery urged other fuel marketers to join its expanding network of partners.

According to Dangote, this move is to demonstrate the company’s support for President Bola Ahmed Tinubu’s ‘Nigeria First Policy’.

绿帽献妻 reports the current administration’s economic policy advocates the “prioritisation of locally-produced goods and services.”

The company further said since the commencement of operations, Dangote Petroleum Refinery “has consistently implemented cost-reduction strategies aimed at delivering tangible savings to Nigerians.”

The statement recalled that in February 2025, the Dangote Refinery carried out two price reductions on petrol, resulting in a total decrease of N125 per litre.

That was followed by a further reduction of approximately N45 per litre in April.

Besides, the prices of other key products, such as diesel and Liquefied Petroleum Gas (LPG), have been significantly lowered, improving affordability across transportation, industrial, and domestic energy sectors, the company said.

Still, Dangote Petroleum Refinery recently reassured Nigerian energy consumers of product “price stability” amid fluctuations in global crude oil prices.

The refinery reaffirmimed its commitment to supporting Nigeria’s economy.

Dangote Refinery stated: “By refining petroleum products domestically at the world鈥檚 largest single-train refinery, we are proud to make a substantial contribution to Nigeria鈥檚 energy security, Foreign Exchange savings, and overall economic resilience鈥攁ligning with President Bola Tinubu鈥檚 Renewed Hope Agenda.”

The administration has said it focuses on addressing the country’s economic challenges and improving the well-being of Nigerians.

“We are immensely grateful to His Excellency, President Bola Tinubu, for making this possible through the commendable Naira-for-Crude Initiative, which has enabled us to consistently reduce the price of petroleum products for the benefit of all Nigerians,” it stated.

It said: “Dangote Petroleum Refinery further assures the public of a consistent supply of petroleum products, with sufficient reserves to meet domestic demand, as well as a surplus for export to enhance the country鈥檚 foreign exchange earnings.

The statement also noted how Alhaji Aliko Dangote, Founder of Dangote Refinery, Tuesday, May 20, was named in the inaugural 2025 TIME100 Philanthropy list, which recognises the 100 most influential leaders shaping the future of philanthropy worldwide.

The list, published by TIME Magazine, includes Aliko Dangote, whose Foundation spends an average of $35 million annually on programmes across Africa, alongside other global figures in charitable work, such as Michael Bloomberg, Oprah Winfrey, Warren Buffett, and Melinda Gates, all of whom were recognised as Titans.

Kindly Share This Story