The main offtaker of Dangote Petroleum Refinery, MRS Oil Nigeria Plc, has started selling Premium Motor Spirit (PMS) for N739 a litre in Lagos, down from N885, less than 24 hours after Aliko Dangote, President of the Dangote Group, announced a drop in gas prices. Businesses and commuters have immediately benefited from the change. During a press conference in Lagos on Sunday, Dangote reassured Nigerians that PMS pump prices will continue to drop, saying that starting on Tuesday, gasoline would retail for no more than N740 per litre in Lagos. The first company to use the new pricing is MRS, which has more than 2,000 stations across the country. To the pleasure of Lagos drivers, all MRS stations will start selling PMS on Tuesday at the new pricing on Monday.Nigerians would gain the most from domestic refining, said to Dangote, since the refinery is working nonstop to guarantee that any price savings are completely represented at retail. He emphasized the variations in quality between imported and locally refined fuel, pointing out that, in contrast to blended imported goods, PMS from MRS and other refinery offtakers is straight-run fuel. an option between purchasing mixed PMS at a higher cost or better-quality fuel at a lower cost. As long as Nigerians gain, importers can keep losing,” he stated. Dangote said that the refinery would deploy its fleet of Compressed Natural Gas (CNG) trucks in the upcoming days and is ready to purchase more units beyond the current 4,000 in order to maintain inexpensive nationwide distribution, despite obstacles, including opposition from some vested interests.Numerous MRS stations implemented the new price nearly 24 hours ahead of schedule, according to checks conducted throughout Lagos. Drivers lined up to buy fuel at the Alapere station, thanking the cut. “This is a relief for us, especially during the festive season,” commuter Mr. Adejare Israel remarked. “It is disappointing that some are still importing fuel at over N900 when we have locally refined, high-quality fuel at a more affordable rate.”
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