The Dangote Refinery has announced a partnership with MRS to sell Premium Motor Spirit (PMS), commonly known as petrol, at ₦935 per litre across its retail outlets nationwide. This initiative is aimed at providing relief to Nigerians amid rising fuel costs.
The development follows a recent price reduction by the Nigerian National Petroleum Company Limited (NNPC), which slashed petrol prices below ₦1,000 per litre.
In a statement posted on Saturday, the President of Dangote Industries Limited, Aliko Dangote, commended President Bola Tinubu for the positive impact of the naira-for-crude swap deal on the economy.
According to Dangote, this policy has contributed to stabilizing the naira and reducing the cost of petroleum products in the country.
“To provide succour to Nigerians, Dangote recently reduced the price of Premium Motor Spirit (PMS) from ₦970 to ₦899.50 at its Refinery loading gantry and provided generous credit terms to marketers,” the statement read.
The partnership with MRS is designed to ensure that the price reduction benefits end consumers.
The ₦935 per litre price is already available in Lagos and will be implemented nationwide from Monday.
Dangote also urged other oil marketers, including NNPC Retail, to collaborate in ensuring that Nigerians enjoy high-quality petrol at reduced prices.
“The Dangote Refinery is for the benefit of Nigeria and Nigerians. We will therefore continue to work with various value chain players to deliver high-quality petrol at cheaper prices,” he said.
The Federal Executive Council (FEC), under President Tinubu, had earlier approved the naira-for-crude swap deal in September, which commenced on October
This move has significantly reduced pressure on the dollar and contributed to the stability of the local currency.
With this partnership, Dangote Refinery continues its commitment to providing affordable and high-quality petroleum products to Nigerians, improving accessibility, and easing the financial burden on citizens.