Dangote Petroleum Refinery has announced a second petrol price reduction in February, slashing its ex-depot price from N890 to N825 per litre, effective February 27, 2025. This N65 per litre decrease follows an earlier reduction of N60 per litre earlier in the month, bringing the total reduction within 26 days to N125 per litre since January.
The Dangote petroleum refinery, Africa’s largest privately owned petroleum processing facility, stated that the price adjustment aligns with efforts to alleviate the financial burden on Nigerians ahead of the Ramadan season. Additionally, it supports President Bola Ahmed Tinubu’s economic recovery initiatives, which focus on stabilizing energy costs and reducing inflationary pressures on consumers.
New Pump Prices Across Nigeria
Following the latest price cut, consumers will experience varying pump prices across different regions, depending on the retail station:
MRS Holdings stations:
Lagos: N860 per litre
South-West: N870 per litre
North: N880 per litre
South-South/South-East: N890 per litre
AP (Ardova Petroleum) and Heyden stations:
Lagos: N865 per litre
South-West: N875 per litre
North: N885 per litre
South-South/South-East: N895 per litre
Dangote Refinery assured Nigerians that its high-quality petrol will remain readily available at these competitive rates through its distribution partners. The company emphasized its commitment to stabilizing supply and preventing artificial scarcity, a common issue during festive periods.
Dangote’s Commitment to Fuel Price Stability
This recent reduction is part of Dangote Refinery’s consistent effort to lower fuel prices and ease the cost of living for Nigerians. The refinery had previously cut N70.50 per litre from PMS prices in December 2024 to curb yuletide fuel shortages and price surges.
With its 650,000 barrels-per-day refining capacity, the facility has significantly improved domestic fuel supply, reducing Nigeria’s reliance on imported petrol. The refinery holds over 500 million litres of petrol in storage, ensuring it can meet the country’s daily demand and export surplus refined products to boost Nigeria’s foreign exchange earnings.
Marketers Urged to Support Price Reduction
In a statement, Dangote Refinery called on petroleum marketers to align with its price reduction initiative, ensuring that Nigerians fully benefit from lower fuel costs. The company warned against hoarding and artificial price inflation, stating that these actions undermine efforts to make petrol more affordable.
“This collective effort is crucial in supporting President Tinubu’s vision of self-sufficiency in refined petroleum products and positioning Nigeria as a major player in the global oil market,” the refinery noted.
Marketers have been urged to pass down the price reduction to end consumers, helping to curb the rising cost of transportation and goods.
Global Recognition and Expansion Plans
Dangote Petroleum Refinery is not only transforming Nigeria’s energy landscape but also gaining international recognition. The company recently exported jet fuel to Saudi Arabia, demonstrating its capability to meet global standards in refined petroleum production.
With its state-of-the-art refining technology, Dangote Refinery continues to attract partnerships across Europe, America, and Asia. Industry experts believe that sustained price cuts, alongside efficient production and distribution, could drive long-term economic stability and significantly reduce Nigeria’s dependence on imported fuel.
The Dangote refinery has assured Nigerians that more price reviews may come in the future, depending on global oil market trends and government economic strategies.
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