22nd May, 2025
Nigerians will now pay less for petrol as Dangote Petroleum Refinery has announced a fresh N15 reduction in the pump price of Premium Motor Spirit (PMS). The new prices are effective across various regions, with Lagos residents now purchasing at N875 per litre, while prices range between N885 and N905 in other zones.
This move, the latest in a series of price cuts, reflects Dangote Refinery’s ongoing strategy to ease the burden on Nigerians and promote the use of locally refined petroleum. In a statement issued by the refinery, it called on other marketers to join its expanding distribution network and align with President Bola Tinubu’s ‘Nigeria First’ policy.
“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,” the company said.
Since operations began, the refinery has slashed PMS prices by as much as N185 per litre through multiple reductions between February and April 2025. The prices of diesel and cooking gas have also seen significant drops, boosting affordability for transportation, industry, and home use.
The company reiterated its assurance of steady supply, with reserves adequate to meet local demand and extra volume available for export, which it said would enhance Nigeria’s foreign exchange earnings.
Aliko Dangote, founder of the refinery, was recently named among the 2025 TIME100 Philanthropy list, which celebrates global changemakers in charitable work. Dangote Foundation reportedly spends over $35 million annually on development initiatives across Africa.
“We are immensely grateful to His Excellency, President Bola Tinubu, for making this possible through the commendable Naira-for-Crude Initiative, which has enabled us to consistently reduce the price of petroleum products for the benefit of all Nigerians,” the statement added.
The company is encouraging other independent and major marketers to key into its supply framework, reinforcing efforts to localise energy solutions and strengthen the nation’s economy.
