Dangote Petroleum Refinery & Petrochemicals has announced a further reduction of N15 in the price of its high-quality Premium Motor Spirit (PMS), bringing the new price in Lagos down to N875 per litre.
The latest cut will see petrol retail for N885 per litre in the South West, N895 in the North West and North Central, and N905 in the South East, South South, and North East. These prices will apply through all its partners, including MRS, AP (Ardova), Heyden, Optima Energy, Techno Oil, and Hyde.
The refinery called on other marketers to join its expanding network of partners, thereby demonstrating their support for President Bola Tinubu’s Nigeria First policy, which advocates for the prioritisation of locally-produced goods and services
“We urge all marketers to support President Bola Tinubu’s Nigeria First policy, which prioritises locally-produced goods and services,” the company stated.
This latest reduction is part of a wider cost-reduction strategy that Dangote Petroleum Refinery has pursued since it began operations. In February 2025, the refinery implemented two separate price cuts that slashed the petrol price by a combined N125 per litre. This was followed by another N45 drop in April. Prices for other major petroleum products—diesel and Liquefied Petroleum Gas (LPG)—have also been lowered, which the company says has enhanced affordability across the transportation, industrial, and domestic energy sectors.
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“By refining petroleum products domestically at the world’s largest single-train refinery, we are proud to make a substantial contribution to Nigeria’s energy security, foreign exchange savings, and overall economic resilience—aligning with President Bola Tinubu’s Renewed Hope Agenda, which focuses on addressing the nation’s economic challenges and improving the well-being of Nigerians,” the company stated.
Dangote Petroleum Refinery also assured consumers of uninterrupted supply, noting that it has sufficient reserves to meet domestic demand and a surplus capacity for export, which will contribute to Nigeria’s foreign exchange earnings.
This announcement coincided with international recognition for the refinery’s founder, Aliko Dangote, who was named on Tuesday to the inaugural 2025 TIME100 Philanthropy list.
The TIME Magazine list celebrates the 100 most influential global leaders in philanthropy, with Dangote featured alongside Michael Bloomberg, Oprah Winfrey, Warren Buffett, and Melinda Gates.
The magazine highlighted Dangote’s philanthropic work through his foundation, which spends an average of $35 million annually on programmes across Africa.
(Editor: Paul Akhagbemhe)
