By Adedapo Adesanya
Dangote Petroleum Refinery has reduced the price of its Premium Motor Spirit (PMS), otherwise known as petrol, to below N900 per litre, in a move to provide much-needed relief for Nigerians ahead of the holiday season.
This will be the second time that Africa’s first privately owned oil refinery will slash the price of the product. It had previously lowered the price to N970 per litre on November 24.
The Dangote Refinery, with a capacity of 650,000 barrels per day (BPD), is the largest single-train refinery in the world. It is fully capable of meeting 100 per cent of Nigeria’s refined petroleum product requirements, with a surplus available for export.
According to a statement on Thursday, Dangote Refinery announced a new price of N899.50 per litre.
“This reduction is designed to ease transport costs during the festive period,” it said in the statement issued by the Group Chief Branding and Communications Officer of Dangote Group, Mr Anthony Chiejina.
The company will also allow consumers to purchase an additional litre of fuel on credit for every litre bought on a cash basis.
“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,” Mr Chiejina noted.
The refinery also expressed gratitude to Nigerians for their continued support as the country enters the festive season.
Mr Chiejina further emphasised 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.