Full List: Dangote Crashes Fuel Price, Six Filling Stations to Sell N20 Below NNPC's New Rate
- Dangote Petroleum Refinery has announced a reduction in its petrol price for both marketers and its partners
- For marketers, Dangote Refinery reduced the fuel price by N30, while its partners also lowered the retail price
- The price competition is seen as good news for Nigerians, with expectations of further reductions
Legit.ng journalist Dave Ibemere has over a decade of business journalism experience with in-depth knowledge of the Nigerian economy, stocks, and general market trends.
Dangote Petroleum Refinery has slashed the pump price of petrol to N890 per litre from N920 per litre at its retail partners' filling stations.
The price cut follows the refinery’s decision to lower its gantry price of Premium Motor Spirit (PMS) from N865 to N835 per litre,
Source: Getty Images
According to a statement issued by Anthony Chiejina, Group Chief Branding and Communications Officer of Dangote Group, the latest reduction aims to ease the financial burden on Nigerians.
Below is the full list of partner oil marketers offering Dangote petrol at the new N890 price:
- MRS Oil
- AP (Ardova)
- Heyden Petroleum
- Optima Energy
- Hyde Energy
- Tecno Oil
Dangote, in its statement, noted that its partners in the South-West, the price will be N900 per litre, reduced from N930.
While in the North-West and North-Central, the price will be N910 per litre, lowered from N940.
In the South-East, South-South, and North-East, the price will be N920 per litre, down from N950.
Chiejina noted that the refinery is working closely with marketers to ensure the price reduction is fairly reflected across the country.
Part of the statement reads:
"These price reductions reaffirm our commitment to providing high-quality petrol at affordable rates, benefiting consumers across the nation.
In addition, we are working collaboratively with our partners to ensure equitable reflection of this price reduction."
Source: Getty Images
Dangote commits to fuel price reduction
Aside from the petrol reduction, Dangote revealed that diesel and Liquefied Petroleum Gas (LPG) have also experienced significant price reductions due to the refinery's sustained efforts.
The statement added:
"Dangote Petroleum Refinery has remained committed to lowering the prices of petrol and other refined products, ensuring continued benefits for Nigerian consumers.
“We believe this latest reduction in PMS prices will have a positive ripple effect across key sectors, offering relief to consumers and supporting economic growth, especially during the Easter season.”
The refinery also reaffirmed its commitment to maintaining a steady supply of high-quality petroleum products, with enough reserves to meet local demand and a surplus for export. This approach aims to stabilise the domestic market while boosting Nigeria’s foreign exchange earnings.
Dangote Petroleum Refinery added that it has adequate stock to meet local demand and maintain export commitments.
The company also urged other downstream players to source their fuel directly from the refinery to ensure consumers benefit from the lower prices.
NNPC petrol price reduced to N910 per litre
Earlier, Legit.ng reported that the Nigerian National Petroleum Company Limited (NNPCL) had slashed its petrol pump price to N910 per litre.
This new price represents a N15 reduction from the previous pump price of N925 per litre.
Despite the reduction, Dangote’s new petrol price, along with that of Ardova and other partners, remains cheaper.
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Source: Legit.ng
