The Dangote Petroleum Refinery has announced another reduction in the price of Premium Motor Spirit (PMS), also known as petrol, bringing it down to N899.50 per litre.
This development comes as the holiday season approaches, offering some financial relief to Nigerians who typically face increased transportation and travel expenses during this period.
This adjustment follows an earlier price cut by the refinery on November 24, 2024, when petrol prices were reduced to N970 per litre. The latest decrease aims to support citizens as they navigate the economic pressures of the festive season.
The Dangote Refinery, located in Lagos, holds the distinction of being Africa’s first privately-owned oil refining facility. Its actions have been widely viewed as a proactive effort to address fuel affordability concerns in the country.
In a statement released on Thursday, Anthony Chiejina, the Group Chief Branding and Communications Officer of Dangote Group, confirmed the price reduction. He emphasized the company’s commitment to easing the financial burden on Nigerians, especially during periods of high demand such as the holidays.
“To alleviate transport costs during this holiday season, Dangote Refinery is offering a holiday discount on PMS. From today, our petrol will be available at N899.50 per litre at our truck loading gantry or SPM.
“Furthermore, for every litre purchased on a cash basis, consumers will have the opportunity to buy another litre on credit, backed by a bank guarantee from Access Bank, First Bank, or Zenith Bank,” Chiejina said.
