Dangote Petroleum Refinery and Petrochemicals has implemented a second petrol price reduction this month, lowering the ex-depot price by ₦65 per litre.
This adjustment brings the new price to ₦825 per litre, down from the previous ₦890 per litre, following an earlier ₦60 reduction in February, a cumulative decrease of ₦125 in just 26 days.
Anthony Echiejina, Head of Media Communications at Dangote Refinery, confirmed the development in a statement on Wednesday, emphasizing that the move aligns with the company’s commitment to easing economic pressures, especially as Ramadan approaches.
The revised pricing means that consumers in Lagos can expect to pay between ₦860 and ₦865 per litre at retail stations starting Thursday, February 27.
Dangote Refinery reiterated its strong supply position, citing over 500 million litres in storage and a 650,000-barrel-per-day refining capacity, which far exceeds Nigeria’s daily petrol consumption of 385,000 barrels.
The company also assured consumers of continued efforts to stabilize fuel costs and enhance accessibility.
This latest price reduction follows similar interventions, including a ₦70.50 per litre cut in December 2024 during the holiday season.
Dangote Refinery reaffirmed its support for President Bola Ahmed Tinubu’s economic recovery initiatives, aiming to make fuel more affordable for Nigerians.
The refinery’s petrol will be available at MRS Holdings, Ardova Petroleum (AP), and Heyden stations nationwide at competitive prices.
The company called on fuel marketers to align with the pricing strategy, ensuring consumers fully benefit from the adjustments.
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