“New Fuel Price”: Where to Buy Cheap Dangote Petrol at N860 Per Litre in Lagos, Other Places
- The Dangote Refinery has crashed petrol prices again by N65 per litre, effective February 27, 2025
- The development comes after the facility comes after it crashed diesel prices by N55 per litre
- However, the refinery announced that its petrol will be available in its partner filling stations at the new price
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Legit.ng’s Pascal Oparada has reported on tech, energy, stocks, investment and the economy for over a decade.
Dangote Refinery has crashed its petrol ex-depot prices again by N65 per litre after reducing diesel prices by N55 last week.
The refinery announced on Wednesday, February 26, 2025, that its ex-depot prices have reduced from N890 to N825.
Source: UGC
Dangote explains the reasons for crashing petrol prices
The new price shows a reduction of N65 per litre and will become effective from February 27, 2025.
According to a statement released on X, the Dangote group said the price is designed to provide essential relief to Nigerians in anticipation of the upcoming Ramadan season.
It added that the new price supports President Bola Ahmed Tinubu's economic recovery policy by alleviating the financial burden on the Nigerian populace.
Dangote also revealed that Nigerians will be able to purchase high-quality Dangote petrol at the following prices in all our partners' retail outlets., Punch reports.
The giant refinery partners with MRS Oil and gas stations to ensure that consumers buy the product at an affordable price.
Dangote refinery supplies 60% of Nigeria’s petrol
The recent crash in PMS prices by the Dangote Refinery will force Nigerians to troop to various filling stations to buy the Dangote Petrol.
Recently, a report by S&P Global showed that about 60% of Nigeria’s petrol supply comes from the Dangote Refinery, which is preparing to reach full refining capacity in a few days.
An official of the Dangote Refinery disclosed that the facility was producing about 37 million litres of petrol daily and was at over 85% production capacity.
The report by S&P Global said the 200,000 barrels of crude per day would meet the majority of Nigeria’s estimated 350,000 barrels per day of petrol demand.
FG says Dangote, NNPC supplies 50% of petrol
Legit.ng earlier reported that the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) revealed that Nigeria’s refineries, including the Dangote Refinery, contribute less than 50% of Nigeria’s daily consumption.
The NMDPRA revealed that the rest of the shortfall comes from imports by oil marketers.
The regulator also disclosed that Nigeria’s petrol consumption dropped from 66 million to 50 million litres daily.
Dangote Refinery reveals N600bn petrol reserves
However, the Dangote Refinery refuted the NMDPRA claims, saying that it holds about 500 million litres of petrol, estimated at N600 billion, in its reserve, enough to meet the consumption demands of Nigerians.
With the latest price cut, Dangote Refinery confirmed that its petrol will be available at the new price in some filling stations.
Source: UGC
MRS Filling Stations
- N860 per litre in Lagos
- N870 per litre in South West
- N880 per Litre in the North
- N890 per litre in South-South and South-East
Ardova and Hyeden Filling Stations
N865 per litre in Lagos
- N875 per litre in South West
- N885 per litre in the North
- N895 per litre in the South-South and South-East
Petrol consumption drops
Legit.ng earlier reported that the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) has revealed that despite improved refining capacity, Nigeria’s three functional refineries supply less than 50% of the country’s petrol consumption.
The NMDPRA said the shortfall in petrol supply was being met by importing petroleum products.
The authority also said the country’s petrol consumption has fallen to 50 million litres daily.
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Source: Legit.ng
