Aliko Dangote has commended President Bola Tinubu for the positive impact of the naira-for-crude swap deal on the Nigerian economy.
To provide succour to Nigerians, Dangote recently reduced the price of Premium Motor Spirit (PMS) from N970 to N899.50 at its refinery loading gantry and provided generous credit terms to marketers.
Dangote commended President Tinubu while speaking in Lagos, saying that the policy, which was approved in September and put into effect on October 1, has helped Nigerians, stabilised the naira, and reduced the cost of petroleum products in the nation.
In line with this development, Dangote announced that Dangote Refinery has partnered with MRS Oil Nigeria Plc to sell Premium Motor Spirit (PMS) at a reduced price of ₦935 per litre nationwide.
“To ensure that this price reduction gets to the end consumer, we have signed a partnership with MRS to sell petrol from its retail outlets nationwide at N935 per litre,” Dangote said.
This price has already commenced in Lagos, and it will be offered nationwide from Monday.
He also called on other oil marketers, such as the NNPC Retail and all other marketers, “to work with us to ensure that Nigerians enjoy high-quality petrol at discounted prices.”
He said, “The Dangote Refinery is for the benefit of Nigeria and Nigerians. We will therefore continue to work with various value chain players to deliver high-quality petrol at cheaper prices.
“Our aim is for all Nigerians to have ready access to high-quality petroleum products that are good for their vehicles, good for their health, and good for their pockets.”
Recall that in September, the Federal Executive Council (FEC) had approved the sale of crude to local refineries in Naira and the corresponding purchase of petroleum products in Naira.
The move, which commenced on October 1, led to reduced pressure on the dollar and ensured the stability of the local currency.
Dangote also thanked Nigerians for their unwavering support and the government for creating an enabling environment for the domestic refining industry.
Adeleke Damilola (ACTION) is a versatile content writer with expertise in news writing and a seasoned media professional and broadcast specialist. Currently serving as News Editor for DNews Info, Damilola is also the CEO of the ACTION brand, committed to shaping lives and establishing a legacy of excellence for present and future generations.
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