National Telescope national telescope newspaper
By Faith Toye |
Dangote Petroleum Refinery has announced a reduction in the ex-depot price of Premium Motor Spirit (PMS), commonly known as petrol, from N950 to N890 per litre, effective from Saturday.
The company attributed the price adjustment to favourable developments in the global energy market and a drop in international crude oil prices.
In a statement issued by its Group Chief Branding and Communications Officer, Anthony Chiejina, Dangote Refinery explained that this move follows a previous price adjustment on January 19, when petrol prices were increased due to rising crude oil costs.
“With recent global market trends indicating a decline, Dangote Refinery has once again adjusted its pricing structure, providing relief to Nigerians,” the statement read.
The refinery emphasized that the price reduction would have a positive impact on the economy, lowering the cost of petrol nationwide and reducing the prices of goods and services, thereby easing the cost of living.
Dangote Refinery also urged petroleum marketers across the country to pass on the benefits of the reduced price to consumers.
The company reaffirmed its support for President Bola Tinubu’s economic recovery agenda, aimed at making Nigeria self-sufficient in refined petroleum products and positioning the country as a major oil export hub.
