Dangote Refinery has again reduced the ex-depot price of Premium Motor Spirit (PMS) from N840 per litre to N820 per litre, effective immediately, marking its second price cut within a week. Last week, the company reduced its ex-depot price from N880 to N840 per litre.
With a steady supply of petroleum products assured, more independent marketers have joined Dangote Refinery’s growing list of distributors retailing high-quality petroleum products across the country.
Anthony Chiejina, Dangote Group’s spokesperson, confirmed the price adjustment in Lagos, stating, “We have reduced the PMS price from N840 to N820 per litre effective immediately.” He attributed the previous reduction to N840 per litre to global crude oil market volatility, particularly during the 12-day geopolitical crisis in the Middle East that pushed up crude oil prices.
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The refinery’s existing partners, including MRS, Heyden, Ardova (AP), Hyde, Optima, and Techno Oil, are expected to reflect the new pricing at their retail outlets. Additionally, several new marketing companies have joined Dangote’s distribution network, including TotalEnergies, Garima Petroleum, Sunbeth Energies, and others.
Dangote Refinery continues to expand its domestic fuel distribution footprint, offering competitive pricing and improving access to refined products across Nigeria. Recently, the refinery recently announced a massive investment of over N720 billion to deploy 4,000 Compressed Natural Gas-powered trucks for nationwide distribution of petroleum products, aiming to save Nigerians over N1.7 trillion annually.
By absorbing over N1.07 trillion annually in fuel distribution costs, the refinery aims to reduce pump prices and inflation. This initiative will benefit over 42 million Micro, Small and Medium Enterprises (MSMEs) by reducing energy costs and enhancing profitability. Starting August 15, Dangote will begin direct delivery of petrol and diesel to filling stations, industrial facilities, and other high-volume consumers.
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