The Dangote Petroleum Refinery has announced a reduction in the ex-depot price of Premium Motor Spirit (PMS), commonly known as petrol, by N65, bringing it down from N890 to N825 per litre.
The new price will take effect on Thursday, February 27, 2025.
In a statement released on Wednesday, the refinery explained that this decision is aimed at easing the financial burden on Nigerians ahead of the Ramadan season while also aligning with President Bola Ahmed Tinubu’s economic recovery agenda.
The refinery reaffirmed its commitment to ensuring affordability, noting that this is the second petrol price reduction in February 2025, following an earlier N60 decrease.
With the latest adjustment, petrol will now be sold at N860 per litre in Lagos, N870 in the South-West, N880 in the North, and N890 in the South-South and South-East at partner retail outlets.
This follows a previous reduction in December 2024, when the refinery cut the price from N970 to N899.50 per litre, underscoring its continued efforts to stabilize fuel prices in the country.