Dangote Refinery Cuts Petrol, Diesel Price
By Auwal Mungadi
The Dangote Petroleum Refinery and Petrochemicals has announced a fresh reduction in the ex-depot prices of Premium Motor Spirit (PMS), commonly known as petrol, and Automotive Gas Oil (AGO), otherwise known as diesel, in a move aimed at easing energy costs and supporting economic activities across Nigeria.
Under the new pricing structure, the ex-depot price of petrol has been reduced to N1,250 per litre from N1,275 per litre, while diesel now sells at N1,700 per litre, down from N1,800 per litre.
The refinery said the latest adjustment reflects its commitment to making refined petroleum products more affordable for consumers and businesses while enhancing the efficiency of domestic fuel supply.
The price reduction is expected to provide relief to sectors that rely heavily on petroleum products, including transportation, manufacturing, agriculture, and power generation.
Since commencing operations, the 650,000-barrels-per-day refinery has steadily increased the supply of refined products to the domestic market as part of efforts to strengthen Nigeria’s energy security and reduce dependence on imported fuels.
Meanwhile, the observers in industry and other Nigerians say the continued downward review of ex-depot prices could contribute to lower operating costs for businesses and potentially moderate inflationary pressures linked to energy expenses.
