By Ayo Kehinde
The Dangote Petroleum Refinery has announced a further reduction in the ex-depot price of petrol, slashing it from N890 to N825 per litre, effective Thursday, February 27, 2025.
In a statement issued by its management, the company said the price adjustment aims to provide relief to Nigerians, particularly in anticipation of the Ramadan season.
With the reduction, petrol will now retail at MRS Holdings stations for N860 per litre in Lagos, N870 per litre in the South-West, N880 per litre in the North, and N890 per litre in the South-South and South-East.
At AP (Ardova Petroleum) and Heyden stations, the pump price will be N865 per litre in Lagos, N875 per litre in the South-West, N885 per litre in the North, and N895 per litre in the South-South and South-East.
“This strategic price adjustment is designed to ease the financial burden on Nigerians while supporting President Bola Ahmed Tinubu’s economic recovery agenda,” the statement read.
The company noted that this is the second price reduction in February alone, following an earlier cut of N60 per litre at the beginning of the month.
In December 2024, during the festive season, the refinery had also reduced petrol prices by N70.50 per litre, bringing the cost down from N970 to N899.50 per litre, a move that helped stabilize supply and prevent the usual end-of-year fuel shortages.
The refinery reassured Nigerians of a steady supply of petroleum products, emphasising that it has sufficient reserves to meet domestic demand while also exporting to boost the country’s foreign exchange earnings.
The company urged petroleum marketers to fully embrace the new pricing structure and ensure that consumers benefit from the reductions.
“This initiative aligns with President Tinubu’s vision to make Nigeria self-sufficient in petroleum refining and position the country as a key exporter of refined products,”the statement added.
