Dangote Refinery has announced a price reduction for Premium Motor Spirit (PMS), also known as petrol, slashing the ex-depot price from N890 to N825 per litre, effective from February 27, 2025. The N65 price cut was confirmed in a statement released on Wednesday, February 26.
Under the new pricing structure, fuel will be sold at N860 per litre at MRS outlets in Lagos. Prices at MRS stations will vary regionally: N870 per litre in the South-West, N880 in the North, and N890 per litre in the South-South and South-East.
Additionally, AP (Ardova Petroleum) and Heyden stations will sell the same product at N865 per litre in Lagos, N875 in the South-West, N885 in the North, and N895 in the South-South and South-East.
Dangote Refinery assured the public of a steady supply of petroleum products, with ample reserves to meet domestic needs and export requirements, which will help boost Nigeria’s foreign exchange earnings. The refinery stated that the price reduction aims to provide relief to Nigerians ahead of the upcoming Ramadan season and support the economic recovery efforts of President Bola Ahmed Tinubu’s administration.