Dangote Petroleum Refinery has officially rolled out the sale of Premium Motor Spirit (PMS), commonly known as petrol, at a reduced pump price of N739 per litre across all MRS Oil Nigeria Plc outlets nationwide. This strategic move is part of the refinery’s ongoing efforts to provide affordable fuel to Nigerians while ensuring stability in the downstream petroleum sector. In an official statement released on Sunday, the refinery highlighted that with over 2,000 MRS filling stations across Nigeria, this price adjustment is set to be implemented uniformly, making sure that the benefits of the fuel price reduction are accessible to consumers in every state. The refinery also praised marketers who have promptly adopted the new pricing model and encouraged others in the sector to align with this initiative in support of Nigeria’s economic growth and recovery. “We commend MRS and other marketers who have demonstrated patriotism by reflecting the reduced price at the pump. We call on others to join this effort as a show of support for Nigeria’s economic recovery,” the statement emphasized. Traditionally, Nigeria’s festive seasons often coincide with fuel shortages and sudden spikes in petrol prices, putting additional financial strain on households. However, Dangote Petroleum Refinery has taken decisive action to prevent such challenges this year. By guaranteeing a daily supply of 50 million litres, the refinery is fundamentally reshaping the national fuel supply dynamics, especially during the holiday period when demand surges. This development not only underscores the refinery’s commitment to providing affordable and consistent fuel supply but also strengthens the overall stability of the country’s petroleum market. For consumers, this means smoother travel plans, reduced transportation costs, and a more predictable fuel availability landscape. The initiative aligns with broader government and industry efforts to reduce inflationary pressures on essential commodities and promote a more resilient economy. Observers note that the adoption of this new pricing model by multiple marketers could pave the way for sustained low fuel prices across the country, potentially influencing the downstream petroleum sector positively for years to come. For more updates on fuel pricing, economic policies, and industry developments in Nigeria, visit LMSINT Media.
In a recent update that has caught the attention of many Nigerians, petroleum product marketers across the country have officially reduced the pump price of premium motor spirit (PMS), commonly known as petrol, starting from today, Tuesday. This price adjustment coincides with the federal government’s declaration of a national public holiday to pay respect to the late former President Muhammadu Buhari. The former president passed away in London on Sunday, July 14th, 2025, and will be laid to rest on Tuesday in Daura, Katsina State. Abubakar Maigandi, the National President of the Independent Petroleum Marketers Association of Nigeria (IPMAN), confirmed this development in an exclusive interview with LMSINT MEDIA on Monday. He stated that the price reduction decision was reached after a strategic meeting of IPMAN members in Abuja on Monday. Maigandi explained that the move was prompted by Dangote Refinery’s recent adjustment of its ex-depot price, reducing it from N840 to N820 per litre. This refinery, noted as Africa’s largest, has now lowered the fuel price twice in July 2025 alone. As a result, IPMAN members have committed to lowering their pump prices beginning today. Specifically, petrol will now be sold in Abuja between N900 and N920 per litre, a reduction from the previous rates of N905 to N945 per litre. In Maigandi’s words: “We convened on Tuesday and collectively agreed to cut the petrol price to between N900 and N920 per litre for our Abuja and north-central zone members. Similarly, in other regions across Nigeria, our members will adjust prices downward to between N860 and N890 per litre.” The reduction in fuel prices has been widely welcomed by Nigerians, who have seen a gradual decrease in petrol costs over the past few weeks. This trend is also supported by the broader economic conditions, including a significant drop in global crude oil prices. As of Monday, Brent Crude traded at $69.10 per barrel, while West Texas Intermediate (WTI) stood at $66.98 per barrel, both declining from previous figures above $70 per barrel. Furthermore, Maigandi emphasized that the continuous decrease in petrol prices is a direct benefit of the ongoing liberalization of Nigeria’s downstream petroleum sector. Marketers credit Dangote Refinery’s pricing decisions and the deregulated market for enabling such reductions, providing some economic relief to citizens during challenging times. It’s worth noting that IPMAN had earlier hinted at an imminent petrol price slash, which aligns with Dangote Refinery’s earlier move to reduce its ex-depot price. This strategic pricing shift is expected to positively influence retail fuel costs nationwide, even as Nigeria grapples with other pressing economic challenges.
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Discover why Dangote Refinery recently increased petrol prices. Learn about the factors influencing the adjustment, including global crude oil prices, and the measures taken to ensure affordability. Dangote Refinery Explains Petrol Price Adjustment The Dangote Petrochemical Refinery has clarified the reasons behind its recent hike in the price of Premium Motor Spirit (PMS), commonly referred to as petrol. This adjustment, which raised the ex-depot price from ₦899 to ₦955 per litre, is linked to the rising cost of global crude oil. In a statement released on its official X account on Sunday, January 19, 2025, the refinery detailed the factors contributing to the price increase while emphasizing its commitment to ensuring affordability for Nigerians. Factors Behind the Price Increase The statement highlighted that the adjustment was necessitated by a 15% rise in global crude oil prices, from $70 to $82 per barrel. As crude oil remains the primary input for producing PMS, fluctuations in its international price directly affect production costs. Additionally, the premium for Nigerian crude, which is approximately $3 per barrel, has further influenced the pricing. Despite these challenges, Dangote Refinery increased its ex-depot price by only 5%, reflecting a commitment to minimizing the impact on consumers. Retail Pricing and National Distribution To ensure consistent pricing nationwide, including in the Federal Capital Territory (FCT), Dangote Refinery’s partners—Ardova, Heyden, and MRS Holdings—will retail petrol at ₦970 per litre. The refinery has also absorbed increased logistics costs to make this possible. “If the entire increase in crude oil prices were passed on to the market, PMS would retail at approximately ₦1,150 to ₦1,200 per litre in some locations,” the statement revealed. However, the current price of ₦970 per litre reflects the refinery’s effort to shield consumers from the full brunt of global price volatility. Commitment to Nigerians Dangote Refinery reiterated its dedication to providing affordable and high-quality petrol while contributing to Nigeria’s economic self-sufficiency. The refinery has absorbed approximately 50% of the cost increases in the international oil market to protect Nigerians from undue hardship. The statement concluded: “In these challenging times, we continue to prioritize the best interests of Nigerians, striving to shield consumers from the full impact of global price volatility while adapting to evolving market conditions.” Conclusion The recent petrol price adjustment by Dangote Refinery underscores the impact of global crude oil price fluctuations on local markets. However, the refinery remains committed to ensuring affordability and reliability, absorbing significant costs to minimize the burden on Nigerians. Call to Action:Stay informed about the latest developments in fuel prices and energy trends. Share your thoughts below or follow us for more updates on economic and market insights in Nigeria. READ ALSO: Follow the LMSINT MEDIA channel on WhatsApp: Join Our WhatsApp Group Hear: Chat on WhatsApp Join our Telegram Chanel.
