PRESS RELEASE
Dangote Petroleum Refinery has announced a reduction in the prevailing price of its Premium Motor Spirit (PMS) or petrol from nine hundred and ninety Naira (N990) to nine hundred and seventy (N970) per litre for marketers.
In October, the Nigerian National Petroleum Company Limited (NNPCL) increased the petrol pump price at its fuel stations by over 15% to 998 Naira per litre in Lagos and 1,030 Naira in Abuja the federal capital. The product sells much higher at private fuel stations, owned by marketers, who usually add margins to the refinery price.
“As the year comes to an end, this is our way of appreciating the good people of Nigeria for their unwavering support in making the (Dangote) Refinery a dream come true,” Anthony Chiejina, Dangote Group Chief Branding and Communications Officer said in a statement on Sunday 24th December 2024. “In addition, this is to thank the government for their support as this will complement the measures put in place to encourage domestic enterprise for our collective well-being.”
He affirmed that “while the refinery would not compromise on the quality of its petroleum products, we assure you of best quality products that are environmentally friendly and sustainable.”
“We are determined to keep ramping up production to meet and surpass our domestic fuel consumption; thus, dispelling any fear of a shortfall in supply,” the statement added.
The US$20-billion Dangote Petroleum Refinery with 650,000 barrels per day capacity, owned by Africa’s richest man Alhaji Aliko Dangote is the World’s largest single rail refinery.
It began producing PMS last September and was set up as one of the private refineries to end fuel importation by oil-producing Nigeria, whose four state-owned refineries are not functioning.
