Lagos, Nigeria — Dangote Petroleum Refinery and Petrochemicals has implemented another price reduction on petrol, marking the second adjustment within a month.
In a statement released Wednesday in Lagos, the company’s Head of Media Communications, Anthony Echiejina, announced a ₦65 per litre cut, lowering the ex-depot price from ₦890 to ₦825 per litre. This follows a prior ₦60 per litre reduction in February, bringing the total decrease to ₦125 within just 26 days.
The latest price adjustment means petrol will retail between ₦860 and ₦865 per litre in Lagos starting Thursday, February 27. The company framed this reduction as a consumer relief measure, particularly ahead of Ramadan, while also aligning with President Bola Ahmed Tinubu’s economic recovery strategy.
Echiejina emphasized Dangote’s commitment to easing fuel costs, recalling that in December 2024, the refinery slashed petrol prices by ₦70.50 during the festive period to mitigate the burden of rising living costs.
Assuring the public of ample fuel availability, Dangote Refinery disclosed that over 500 million litres of petrol are currently in storage. With a 650,000 barrels-per-day refining capacity, the facility is well-equipped to surpass Nigeria’s daily demand of 385,000 barrels.
Dangote fuel products will be available at MRS Holdings, AP (Ardova Petroleum), and Heyden stations nationwide, ensuring competitive pricing across the country. The company urged marketers to adopt the new rates to maximize consumer benefits.
By Taiwo Olatinwo |February 27, 2025.
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