Dangote Petroleum Refinery & Petrochemicals provided assurance yesterday that it has consistently lowered the price of Premium Motor Spirit (PMS), commonly referred to as petrol, despite the fluctuations in global crude oil prices.
This is occurring during a period of instability in the global oil market.
According to the IEA’s Oil Market Report, global oil supply increased by approximately 160,000 barrels per day in April compared to the previous month, reaching 104.46 million barrels per day.
However, Dangote Refinery which operates a 650,000-barrel refinery in Ibeju-Lekki Lagos in a release signed its Group Chief Branding and Communications Officer, Anthony Chiejina said the decision to maintain price stability reflects its unwavering commitment to supporting the Nigerian economy and alleviating the burden on consumers from the increase in fuel prices by maintaining price stability.
Just last week, the refinery slashed the gantry price of Premium Motor Spirit (PMS), otherwise known as petrol, to N825 per litre from N835.
By refining petroleum products domestically at the world’s largest single-train refinery, we are proud to make a substantial contribution to Nigeria’s energy security, foreign exchange savings, and overall economic resilience—aligning with President Bola Tinubu’s Renewed Hope Agenda, which is focused on addressing the nation’s economic challenges and improving the well-being of Nigerians. We are immensely grateful to His Excellency, President Bola Tinubu for making this possible through the commendable Naira-for-Crude Initiative, which has enabled us to consistently reduce the price of petroleum products for the benefit of all Nigerians.”
The company guaranteed to all stakeholders—including consumers, partners, and the government—that it would remain committed to operational excellence and serving the nation.
“Dangote Petroleum Refinery is dedicated to guaranteeing that the advantages of our local refining capacity are completely realized and enjoyed by the people of Nigeria. In all aspects of our work, we will keep affordability, quality, and the national interest as our foremost priorities.
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