For the second time in February, Dangote Petroleum Refinery has reduced the ex-depot price of premium motor spirit (PMS), cutting it from N890 to N825 per litre. This follows an earlier N60 per litre reduction on February 1, bringing the total price drop to N125 per litre within 26 days.
A statement from the refinery—Africa’s first privately owned petroleum processing plant—confirmed that the new pricing takes effect from Thursday, February 27, and aims to ease the financial burden on Nigerians, particularly ahead of Ramadan.
“This strategic price adjustment supports President Bola Ahmed Tinubu’s economic recovery initiatives while ensuring Nigerians pay between N860 and N865 per litre at the pump in Lagos,” the statement read.
The refinery emphasized its commitment to stabilizing fuel prices, citing past reductions, including a N70.50 per litre cut in December 2024 during the festive season.
New Pump Prices Across Nigeria
Prices at major distributors—MRS Holdings, AP (Ardova Petroleum), and Heyden—will vary across regions:
MRS Holdings Stations:
Lagos: N860 per litre
South-West: N870 per litre
North: N880 per litre
South-South/South-East: N890 per litre
AP (Ardova Petroleum) & Heyden Stations:
Lagos: N865 per litre
South-West: N875 per litre
North: N885 per litre
South-South/South-East: N895 per litre
With over 500 million litres of petrol in storage, Dangote Refinery assured Nigerians of uninterrupted supply and urged petroleum marketers to support its price reduction efforts. The refinery, which exports refined products to Europe, America, and Asia, recently supplied jet fuel to Saudi Arabia.
The company reaffirmed its goal of making Nigeria self-sufficient in refined petroleum products, reducing dependence on imports, and positioning the country as a key player in the global oil market.
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