The Dangote Refinery has announced a partnership with MRS to sell Premium Motor Spirit (PMS), commonly known as petrol, at ₦935 per litre across its retail outlets nationwide. The new pricing will take effect nationwide from Monday, with the initiative already underway in Lagos.
The move comes on the heels of the Nigerian National Petroleum Company Limited (NNPC) reducing petrol prices below ₦1,000 per litre, signaling a downward trend in fuel costs.
In a statement shared on his X account on Saturday, Aliko Dangote, President of Dangote Industries Limited, commended President Bola Tinubu for the positive impact of the naira-for-crude swap deal on Nigeria’s economy. According to Dangote, the deal has contributed to a significant reduction in the prices of petroleum products in the country.
“To provide succour to Nigerians, Dangote recently reduced the price of Premium Motor Spirit (PMS) from N970 to N899.50 at its Refinery loading gantry and provided generous credit terms to marketers,” the statement read.
“To ensure that this price reduction gets to the end consumer, we have signed a partnership with MRS to sell petrol from its retail outlets nationwide at N935 per litre.”
The statement also emphasized the importance of collaboration among industry stakeholders, with Dangote urging oil marketers, including NNPC Retail, to join the initiative to ensure Nigerians benefit from affordable, high-quality petrol.
“The Dangote Refinery is for the benefit of Nigeria and Nigerians. We will therefore continue to work with various value chain players to deliver high-quality petrol at cheaper prices.
“Our aim is for all Nigerians to have ready access to high-quality petroleum products that are good for their vehicles, good for their health, and good for their pockets,” Dangote said.
