LAGOS: In a move aimed at alleviating the financial strain on Nigerians as the holiday season approaches, Dangote Petroleum Refinery and several oil marketers have reduced the price of Premium Motor Spirit (PMS), also known as petrol, to ₦899.50 per litre. This price adjustment is expected to provide much-needed relief to consumers struggling with high transportation costs.
The announcement was made by Anthony Chiejina, the Group Chief Branding and Communications Officer of Dangote Group, who highlighted that the price reduction was part of the company’s ongoing commitment to offering affordable and high-quality petroleum products.
The new price represents a decrease from the previously set rate of ₦970 per litre, which was adjusted on November 24. The decision to further lower the price demonstrates Dangote Refinery’s efforts to ease the financial burden on Nigerians, especially with the peak holiday period fast approaching.
Alongside the price cut, Dangote Refinery has introduced a unique consumer offer. Customers purchasing petrol with cash will have the opportunity to buy an additional litre on credit, with a bank guarantee from leading financial institutions such as Access Bank, First Bank, and Zenith Bank. This initiative is designed to make petrol more accessible for consumers during the busy and expensive festive season.
The price reduction also comes at a time when other oil marketers have followed suit, reflecting a broader trend across the industry to lower fuel prices. This alignment is expected to provide a collective sense of relief for Nigerians, particularly as transport costs have remained high due to previous fuel price hikes.
Read also:
- NNPCL Increases Petrol Price For The 3rd Time In 60 Days
- NPCL Step Down As Middleman Between Dangote And Oil Marketers
- NNPCL, Dangote Tap-Dance Over Petrol Prices As Trucks Drivers Stranded At Depo
-
Brutal Assault On Nigerians,’ PDP Demands Reversal Of Petrol Price Hike
In his statement, Chiejina emphasized that Dangote Refinery’s commitment goes beyond just lowering prices. The refinery is dedicated to providing high-quality petrol that is not only engine-friendly but also environmentally safe.
He pointed out the positive impact of Dangote Refinery’s operations on the Nigerian market, which is no longer a dumping ground for substandard and blended imported fuel products. This shift is a significant step toward ensuring that Nigerians are provided with cleaner, safer fuel, which in turn benefits both public health and the environment.
The reduction in petrol prices by Dangote Refinery and other oil marketers signals a strong commitment to improving the economic conditions for Nigerians during the holiday season. By offering high-quality products at competitive prices and introducing innovative customer incentives, these companies are not only addressing immediate transportation costs but are also setting new standards for product quality and service delivery in the Nigerian oil and gas sector.
