Dangote Petroleum Refinery has reduced the price of its Premium Motor Spirit (PMS) product to N899.50 per litre following pressure from the Independent Petroleum Marketers’ Association of Nigeria (IPMAN) and other stakeholders.
Last month, the refinery commenced sale at N960 per litre into ships while maintaining N990 for sale into trucks.
But the refinery said the gesture was to “Provide much-needed relief for Nigerians ahead of the holiday season.”
In November, IPMAN had claimed that it is more expensive to buy fuel from Dangote.
“If Dangote has a product selling for N1,000, let’s assume, and there’s another place selling for N900, we can’t just say, for the sake of our relationship with Dangote, that we’ll instruct our members to buy there.
“We must go where the price is lower, where we’ll get profit,” National Assistant Secretary of IPMAN, Yakubu Suleiman had said.
The Group Chief Branding and Communications Officer, Anthony Chiejina said the refinery is also providing a credit scheme for customers.
Dangote Refinery said, “Previously lowered the price to N970 per litre on November 24, has now announced a new price of N899.50 per litre. This reduction is designed to ease transport costs during the festive period.”
“To alleviate transport costs during this holiday season, Dangote Refinery is offering a holiday discount on PMS. From today, our petrol will be available at N899.50 per litre at our truck loading gantry or SPM.
” Furthermore, for every litre purchased on a cash basis, consumers will have the opportunity to buy another litre on credit, backed by a bank guarantee from Access Bank, First Bank, or Zenith Bank.
“The refinery’s commitment to ensuring Nigerians have access to premium quality petroleum products that are competitively priced, as well as environmentally and engine friendly.”
He highlighted that the refinery’s operations mark the end of Nigeria being a dumping ground for substandard and ‘blended’ imported products, which have posed significant risks to human health, machinery, and the environment.”