Fuel price down again as Dangote slashes petrol to ₦860 per litre

Dangote Petroleum Refinery has announced a fresh reduction in the ex-depot price of Premium Motor Spirit (PMS), cutting the cost from ₦890 to ₦825 per litre, effective 27th February 2025. As a result, motorists in Lagos will now purchase petrol at ₦860 per litre at MRS stations, while prices will vary across regions, with the North paying ₦880 and the South-South/South-East at ₦890 per litre. Prices at Ardova Petroleum (AP) and Heyden stations will be slightly higher, with Lagos selling at ₦865 per litre and the South-East at ₦895. The refinery stated that the latest price adjustment aims to provide financial relief to Nigerians ahead of the Ramadan season, while aligning with President Bola Ahmed Tinubu’s economic recovery agenda. “This initiative is to ease the burden on Nigerians, ensuring that fuel remains accessible at a reasonable cost,” the company said in a statement. This marks the second reduction in February, following an earlier ₦60 cut. In December 2024, Dangote Refinery had also reduced PMS prices by ₦70.50 to cushion the effect of high fuel costs during the festive season. The company reassured Nigerians of sufficient petrol supply and called on marketers to ensure consumers benefit from the price cut. “We remain committed to stabilising the market and boosting Nigeria’s economic growth,” Dangote Refinery added.