New Petrol Prices as Group Hails Dangote Refinery, MRS Oil's Partnership On Cheap Yuletide Fuel

• The recent petrol price crash by Dangote Refinery and subsequent partnership with MRS Oil has been hailed as a good move
• The Independent Monitors Group on Economic Reform (IMGER) described the move as a commitment to the welfare of Nigerians
• The group also hailed Dangote Refinery’s special purchase offer, allowing customers to purchase an extra litre of fuel on credit secured by banks

Legit.ng’s Pascal Oparada has reported on tech, energy, stocks, investment and the economy for over a decade.

The Independent Monitors Group on Economic Reform (IMGER) has lauded Dangote Petroleum Refinery and MRS Oil for crashing the price of Premium petrol.

Wasiu Akande praised the two firms' plans in a statement, saying they showed their commitment to the development and well-being of Nigerians.

Dangote Refinery offers petrol on credit

Akande also called for more such collaboration between the private sector and the Nigerian government to boost economic growth and development that benefits Nigerians.

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The group lauded Dangote Refinery's special purchase offer, which allows consumers to buy extra fuel on credit secured by a bank guarantee.

According to The Nation, this initiative, according to Akande, provides added financial flexibility for consumers during the high-spending holiday period.

IMGER believes that reducing fuel prices will positively impact the Nigerian economy, lowering the cost of transportation, food, and other essential commodities.

The statement said:

"IMGER commends Dangote Petroleum Refinery and MRS Oil for their bold and laudable decision to reduce the price of Premium Motor Spirit (PMS) during the yuletide season,". 

The move will improve economic standards

The statement said the move shows the firm’s dedication to providing affordable petroleum products to Nigerian consumers.

The group disclosed that it believes Dangote and MRS's crash in petrol prices will positively impact the Nigerian economy, helping to reduce transportation costs, food, and other key commodities.

IMGER disclosed that the move will boost economic activity, stimulate growth and enhance the overall living standards nationwide.

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The group asked the Nigerian government to support and collaborate with Dangote Refinery and MRS Oil to deliver on the nation’s economic potential.

IMAGER also urged other private sector players to emulate the example of Dangote and MRS Oil by prioritising the welfare and well-being of Nigerians.

Meanwhile, reports have revealed that MRS Oil has begun enforcing N939 per litre of petrol in retail outlets, threatening to sanction erring stations,

The move comes as the company mandated its outlets to sell petrol below N1,000 per litre in agreement with Dangote Refinery.

Dangote collaborates with MRS to reduce petrol price

Legit.ng earlier reported that Dangote Refinery has agreed with MRS to distribute petrol for N935 per litre through its retail outlets nationwide.

Dangote Group's spokesman, Tony Chiejine, disclosed this in a statement on Saturday, December 21, 2024.

The mega refinery crashed petrol prices for marketers from N970 to N899 per litre to ease transportation burdens for Nigerians during the holidays.

Source: Legit.ng