Frontnaija news.
Dangote Petroleum Refinery has announced a further reduction in the pump price of Premium Motor Spirit (PMS), commonly known as petrol, with new prices ranging from N875 per litre in Lagos to N905 in other parts of the country.This latest adjustment marks a N15 drop in the Lagos price and comes as part of the company’s ongoing efforts to ease the burden of fuel costs on Nigerians. The announcement was made public on Wednesday via the refinery’s official X (formerly Twitter) handle.According to the statement, the revised prices are effective immediately and apply to the refinery’s major fuel marketing partners, including MRS, Ardova, Heyden, Optima Energy, Techno Oil, and Hyde Energy.The refinery emphasized that the price slash is part of a broader strategy to stabilize the fuel supply chain and reduce the cost burden on consumers and businesses across Nigeria.“Our commitment is to ensure Nigerians enjoy the benefits of our investment in domestic refining,” the statement read in part. The company added that as production stabilizes, further cost efficiencies may be passed on to consumers.The Dangote Refinery, located in the Lekki Free Trade Zone of Lagos State, is Africa’s largest oil refining facility and has been at the center of Nigeria’s quest to achieve energy independence and eliminate reliance on imported refined products.This move comes amid widespread anticipation of increased local refining capacity and its expected impact on fuel availability and pricing nationwide.Source: The Guardian Nigeria.
