The Dangote Petroleum Refinery & Petrochemicals has announced a fresh reduction in the ex-depot prices of Premium Motor Spirit (PMS), popularly known as petrol, and Automotive Gas Oil (AGO), commonly referred to as diesel. The company disclosed the development in a statement, saying the latest adjustment underscores its commitment to making refined petroleum products more affordable and supporting economic activities across the country.
READ ALSO: Average Petrol Price Hits ₦1,532 Per Litre According to the statement, the ex-depot price of PMS was reduced to ₦1,250 per litre from ₦1,275 per litre, while the price of AGO was cut to ₦1,700 per litre from ₦1,800 per litre. “The price review comes amid the refinery’s continued efforts to improve supply efficiency, deepen domestic refining, and provide cost relief to consumers and businesses that depend heavily on petroleum products for transportation, power generation and industrial operations,” it stated.
The refinery noted that the latest reduction aligns with its broader objective of ensuring a steady supply of refined products to the domestic market while helping to ease the cost burden on consumers and businesses. It noted that since commencing operations, the 650,000 barrels-per-day its has increasingly supplied refined petroleum products to the local market as part of efforts to reduce Nigeria’s reliance on imported fuel and strengthen domestic refining capacity.