The Dangote Petroleum Refinery has announced a fresh reduction in the prices of Premium Motor Spirit (PMS) and Automotive Gas Oil (Diesel), a move aimed at easing fuel costs and supporting economic activities across Nigeria.
The refinery said the new prices would take effect from Thursday, August 6, as part of efforts to improve access to refined petroleum products and make energy more affordable for consumers and businesses.
Under the revised pricing arrangement, the ex-depot price of petrol has been reduced from N1,215 per litre to N1,165 per litre, representing a N50 decrease.
Diesel prices have also dropped from N1,650 per litre to N1,570 per litre, marking an N80 reduction.
Dangote Petroleum Refinery said the adjustment reflected its commitment to passing on operational gains to Nigerians whenever market conditions allow.
The company explained that the reduction was designed to strengthen product availability, support businesses and contribute to economic growth.
The refinery reaffirmed its focus on maintaining a steady supply of petroleum products while using improved efficiency to deliver value to consumers.
“As Africa’s largest refinery, Dangote Petroleum Refinery continues to play a pivotal role in strengthening Nigeria’s energy security, reducing reliance on imports, and supporting the nation’s economic development through the supply of world-class petroleum products,” the company said.
The latest price cut comes as the refinery continues to expand its role in Nigeria’s petroleum market by increasing domestic production and reducing dependence on imported refined products.
Dangote Refinery said it remained committed to supporting the Nigerian economy by improving energy security and ensuring consumers benefit from increased operational efficiency.
The company added that it would continue to review its pricing structure in response to market realities while working to provide reliable petroleum supplies nationwide.
