Dangote Petroleum Refinery has announced a fresh reduction in the gantry price of Premium Motor Spirit (PMS), commonly known as petrol. The price now stands at ₦825 per litre, down from ₦890, effective February 27, 2025. “This move is part of our commitment to easing the economic burden on Nigerians,” a refinery official said. The reduction aligns with President Bola Ahmed Tinubu’s economic recovery plans and comes just ahead of Ramadan.
This is the second price cut in February, following an earlier ₦60 reduction. In December 2024, the refinery had also lowered the PMS price by ₦70.50 during the festive season. However, oil marketers have not consistently passed these savings to consumers.
The Dangote Refinery, currently operating at 85% capacity, aims to hit its full production of 650,000 barrels per day within 30 days. “We expect this will help stabilise fuel prices and boost national energy security,” the official added.
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