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Motorists and other petrol consumers in Lagos will now pay N890 per litre for premium motor spirit (PMS), following a price reduction by Dangote Refinery. The refinery’s new gantry price of N835 per litre has led to a decrease in petrol prices across its partner retail outlets. The price reduction took effect yesterday, according to a statement signed by the Group Chief Branding and Communications Officer, Dangote Industries Limited, Anthony Chiejina. 

The latest price cut marks the second price reduction on petrol by the firm within a week. According to Chiejina, prices of the commodity across all its partner retail outlets will be ₦890 per litre in Lagos, down from ₦920. In other regions, prices will be ₦900 per litre in the Southwest, ₦910 per litre in the Northwest and North-Central, and ₦920 per litre in the Southeast, South-South, and Northeast.

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“These price reductions reaffirm our commitment to providing high-quality petrol at affordable rates, benefiting consumers across the nation. In addition, we are working collaboratively with our partners to ensure equitable reflection of this price reduction,” the statement read

Chiejina explained that Dangote Petroleum Refinery has consistently worked to reduce prices of petrol and other refined petroleum products. “We anticipate that this latest reduction in PMS prices will generate a positive ripple effect throughout various sectors of the economy, providing much-needed relief to consumers and contributing to broader economic growth, particularly during the Easter season,” he said.

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The refinery remains committed to ensuring a steady supply of premium-quality petroleum products, with sufficient reserves to meet domestic demand and a surplus for export. “Dangote Petroleum Refinery calls on industry stakeholders, including marketers and distributors, to continue sourcing their products from the refinery, ensuring that the benefits of these price reductions are fully realised across the country,” the statement added

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