Dangote Petroleum Refinery has lowered the ex-depot price of Premium Motor Spirit (PMS), commonly known as petrol, by N65, bringing the cost down from N890 to N825 per litre. The price adjustment will take effect on February 27, 2025.
With this change, consumers in Lagos will now pay N860 per litre at MRS outlets.
According to the refinery, the price cut is aimed at easing financial pressures on Nigerians ahead of the Ramadan season, while aligning with President Bola Ahmed Tinubu’s economic recovery efforts.
This is the second petrol price reduction by Dangote in February 2025, following a previous N60 decrease earlier in the month. In December 2024, during the Christmas season, the refinery had also reduced petrol prices by N70.50 — from N970 to N899.50 per litre — as part of efforts to relieve Nigerians of rising living costs.
The refinery management outlined the updated prices for various regions:
“For MRS Holdings stations, it will sell 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 respectively.”
Similarly, petrol prices at AP (Ardova Petroleum) and Heyden stations will be as follows:
“The same product will also be available at the following prices in AP (Ardova Petroleum) and Heyden stations: 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.”
The refinery assured Nigerians that there’s enough supply to meet local demand and even sustain exports to boost foreign exchange earnings. It also urged fuel marketers to support the initiative to ensure Nigerians fully benefit from the price reduction.