Dangote Refinery Slashes Petrol Price to ₦825 Per Litre – See New Pump Prices Across Nigeria

 

Dangote Refinery Slashes Petrol Price to ₦825 Per Litre – See New Pump Prices Across Nigeria

In a bold move set to bring much-needed relief to Nigerians, Dangote Petroleum Refinery has announced a significant reduction in the ex-depot price of Premium Motor Spirit (PMS), commonly known as petrol. Starting February 27, 2025, the price will drop by ₦65 per litre, bringing it down from ₦890 to ₦825 per litre.

This marks the second fuel price reduction in February, following an earlier ₦60 per litre cut at the beginning of the month. In total, Dangote Refinery has slashed ₦125 per litre since January, when the price was ₦950 per litre. The latest price adjustment is expected to provide crucial economic relief amid rising costs of living and fluctuating forex rates.



Why Is Dangote Refinery Reducing Petrol Prices?

According to the refinery’s management, the latest price slash is part of a strategic initiative to ease financial pressure on Nigerians, especially as the country approaches the Ramadan season. The move is also aligned with President Bola Ahmed Tinubu’s economic recovery plan, which aims to stabilize inflation and boost consumer purchasing power.

By reducing the cost of petrol, Dangote Refinery is setting a new precedent in Nigeria’s petroleum industry, leveraging its local refining capacity to ensure stable fuel supply and pricing.

New Petrol Prices Across Nigeria

Following the price reduction, major filling stations across the country have adjusted their pump prices. Here’s a breakdown of the new petrol prices at key retail outlets:

MRS Holdings Stations:

  • Lagos – ₦860 per litre
  • South-West – ₦870 per litre
  • North – ₦880 per litre
  • South-South & South-East – ₦890 per litre

AP (Ardova Petroleum) & Heyden Stations:

  • Lagos – ₦865 per litre
  • South-West – ₦875 per litre
  • North – ₦885 per litre
  • South-South & South-East – ₦895 per litre

Nigerian Economy

The reduction in petrol prices is expected to have far-reaching effects on the economy. Transport costs, which have been a major driver of inflation, could see a gradual decline, easing the financial burden on millions of Nigerians. Additionally, sectors heavily dependent on fuel—such as logistics, agriculture, and manufacturing—are likely to benefit from the lower operating costs.

This move also reinforces Dangote Refinery’s dominance in the petroleum industry, positioning it as a game-changer in Nigeria’s energy sector. By offering competitive pricing, the refinery is challenging traditional import-dependent supply chains and pushing for greater reliance on locally refined fuel.

Ensuring Fuel Supply Stability

Dangote Refinery has assured Nigerians that it has the capacity to meet domestic fuel demand, with enough reserves to prevent artificial scarcity. The company has also called on marketers and filling stations to pass on the benefits of the price cut to consumers, ensuring that the intended economic relief is fully realized.

Previous Petrol Price Reductions

This is not the first time Dangote Refinery has slashed petrol prices. In December 2024, the refinery reduced PMS prices by ₦70.50 per litre, from ₦970 to ₦899.50, during the festive season. This ensured that Nigerians did not experience the usual fuel scarcity and price surges that typically accompany the holidays.

In a similar move, MRS Oil Nigeria Plc recently reduced petrol prices across its retail stations. As of February 10, 2025, MRS stations in Lagos were selling fuel at ₦925 per litre, down from ₦970 per litre.

Will Petrol Prices Drop Further?

Industry experts believe that Dangote Refinery’s pricing strategy could lead to further reductions in fuel costs if crude oil prices remain stable and forex pressures ease. With local refining now in full swing, Nigeria is gradually shifting away from import dependency, which historically led to price volatility and supply shortages.

The latest fuel price reduction by Dangote Refinery is a major win for consumers, signaling a shift towards locally refined, affordable petrol. As the refinery continues to ramp up production, Nigerians can expect more price stability and improved fuel availability.

This development is a positive step towards achieving energy self-sufficiency, reducing the country’s reliance on imported fuel, and strengthening the Nigerian economy. With further government support and market stability, petrol prices could continue on a downward trend, offering long-term economic relief to millions of Nigerians.

Key Takeaways:

✔ Dangote Refinery reduces petrol ex-depot price to ₦825 per litre (effective Feb 27, 2025)
✔ MRS, AP, and Heyden adjust pump prices across Nigeria
✔ Move expected to ease cost of living and transportation
✔ Strategic alignment with Nigeria’s economic recovery plan
✔ Fuel supply remains stable, with no anticipated shortages

This price adjustment could reshape Nigeria’s fuel market, ensuring that consumers benefit from locally refined petrol at more affordable rates.

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