Excitement in the air as Dangote crashes petrol price to N860/litre for Lagosians

The Dangote Refinery has reduced the ex-depot (gantry) price of Premium Motor Spirit (PMS), commonly referred to as petrol, from N890 to N825 per litre, effective from February 27, 2025. In an announcement on Wednesday, February 26, 2025, the indigenous refinery said the new price template was designed to provide essential relief to Nigerians in anticipation of the upcoming Ramadan season. It added that the decision would also support President Bola Ahmed Tinubu’s economic recovery policy by alleviating the financial burden on the Nigerian populace. This is the second PMS price reduction in February 2025 alone, following a diminution of N60.00 earlier in the month. According to the refinery’s management, the latest reduction means Nigerians will be able to purchase the Dangote petrol at the new prices in all partner retail outlets. “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. “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,” it stated. The company reaffirmed its commitment to consistent petroleum product supply, assuring that there are sufficient reserves to meet domestic demand and a surplus for export to enhance the country’s foreign exchange earnings. It enjoined marketers to support the initiative to ensure that Nigerians remain the primary beneficiaries of the effort. ALSO READ: Africa’s richest man Aliko Dangote’s wealth doubles with $23 billion gamble This is hardly the first time Dangote Refinery has modified the prices of its petrol and other refined petroleum products for seasonal celebrations. In December 2024, the refinery reduced the price of PMS by N70.50, from N970 to N899.50 per litre, to ease the cost of living and provide relief to Nigerians during the yuletide period.