In a move expected to bring relief to Nigerians, Dangote Refinery has announced a reduction in the ex-depot price of Premium Motor Spirit, popularly known as Petrol, from N950 to N890 per litre, effective immediately.
According to a statement released by the Dangote Group Chief Branding and Communications Officer, Anthony Chiejina, the price adjustment is in response to favourable developments in the global energy sector and a significant decline in international crude oil prices.
Chiejina explained that the latest move follows a decision made on January 19, when a modest price increase was implemented due to rising crude oil costs.
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However, with the recent global market trends indicating a decline, Dangote Refinery has once again adjusted its pricing structure, providing relief to Nigerians.
“This reduction from N950 to N890 will result in a meaningful decrease in the cost of petrol nationwide,” Chiejina said. “Dangote Petroleum Refinery firmly believes that this reduction will have a positive ripple effect throughout the broader economy.”
The price reduction is expected to significantly lower the cost of Petrol across the country, bringing relief to consumers and businesses alike.
(Editor: Nkoli Omhoudu)
