Business

Dangote Slashes Petrol Price

informantonline.com.ng

December 19, 2024
2 min read

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Dangote Petroleum Refinery has lowered the price of its Premium Motor Spirit (PMS) to N899.50 per litre.

The price adjustment was announced in a statement on Thursday morning.

The company said the decision was taken to “provide much-needed relief for Nigerians ahead of the holiday season”.

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“Africa’s first privately-owned oil refinery, which 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,” read the statement signed by the Group’s Chief Branding and Communications Officer, Anthony Chiejina.

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He added that the company also introduced a special offer to further benefit consumers.

“In addition to the holiday discount, Dangote Petroleum Refinery is allowing 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,” said Chiejina.

The refinery expressed its sincere gratitude to Nigerians for their unwavering support as the country enters the festive season.

Chiejina further underscored the refinery’s commitment to ensuring that Nigerians have access to high-quality petroleum products that are not only competitively priced but also environmentally friendly and safe for engines.

He stressed that the refinery’s operations signify the end of Nigeria’s reliance on substandard and “blended” imported products, which have posed significant risks to human health, machinery, and the environment.

With a daily capacity of 650,000 barrels, the Dangote Refinery is the largest single-train refinery in the world. It is fully equipped to meet 100% of Nigeria’s refined petroleum product needs, with surplus capacity available for export.