Business

Dangote Refinery Reduces PMS Price Again by N15; now N875/litre

Published

1 year ago

May 22, 2025

732 Views

Another reduction of petrol price has been announced by Dangote Petroleum Refinery and Petrochemicals by N15 in the price of its high-quality Premium Motor Spirit (PMS).

Nigerians will now purchase the product at the following prices: N875 per litre in Lagos; N885 per litre in the South West; N895 per litre in the North West and North Central, as a result of this reduction, while it will be sold for N905 per litre in the South East, South South, and North East.

According to the petroleum giants, these prices will apply through all its partners, including MRS, AP (Ardova), Heyden, Optima Energy, Techno Oil, and Hyde.

The refinery called on other marketers to join its expanding network of partners, thereby demonstrating their support for President Bola Tinubu’s Nigeria First policy, which advocates for the prioritisation of locally-produced goods and services Since the commencement of operations, Dangote Petroleum Refinery has consistently implemented cost-reduction strategies aimed at delivering tangible savings to Nigerians.

In February 2025, the company carried out two price reductions on petrol, resulting in a total decrease of N125 per litre.

This was followed by a further reduction of approximately N45 per litre in April.

Additionally, the prices of other key products, such as diesel and Liquefied Petroleum Gas (LPG), have been significantly lowered, improving affordability across transportation, industrial, and domestic energy sectors.

Dangote Petroleum Refinery recently reassured Nigerians of price stability despite fluctuations in global crude oil prices, reaffirming its commitment to supporting Nigeria’s economy.

“By refining petroleum products domestically at the world’s largest single-train refinery, we are proud to make a substantial contribution to Nigeria’s energy security, foreign exchange savings, and overall economic resilience—aligning with President Bola Tinubu’s Renewed Hope Agenda, which focuses on addressing the nation’s economic challenges and improving the well-being of Nigerians.

We are immensely grateful to His Excellency, President Bola Tinubu, for making this possible through the commendable Naira-for-Crude Initiative, which has enabled us to consistently reduce the price of petroleum products for the benefit of all Nigerians,” it stated.

Dangote Petroleum Refinery further assures the public of a consistent supply of petroleum products, with sufficient reserves to meet domestic demand, as well as a surplus for export to enhance the country’s foreign exchange earnings.

The founder of Dangote Refinery, Aliko Dangote, was named on Tuesday in the inaugural 2025 TIME100 Philanthropy list, which recognises the 100 most influential leaders shaping the future of philanthropy worldwide.

The list, published by TIME Magazine, includes Aliko Dangote, whose Foundation spends an average of $35 million annually on programmes across Africa, alongside other global figures in charitable work, such as Michael Bloomberg, Oprah Winfrey, Warren Buffett, and Melinda Gates, all of whom were recognised as Titans.

Related Topics:Dangote Refinery Featured PMS Pump Price Reduction

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Business

Emir Sanusi mobilises Kano People “Buy Dangote Refinery’s Shares Now”

“I speak as the Emir of Kano; I would like my people to be owners of this company . I do not want us to be left behind in the capital markets. I do not want us to be left behind in financial inclusion. So this is the time and this is the opportunity,” said Sanusi.

Published

1 day ago

September 17, 2026

OCHEFA

18 Views

The Emir of Kano, Muhammadu Sanusi II, has praised Kano-born businessman Aliko Dangote and encouraged residents to secure a stake in the Dangote Refinery and Petrochemical Plc before the public offering closes.

The royal father made the call on Thursday during the Dangote Refinery IPO investor roadshow in Kano, urging residents to invest only disposable income they can afford to lock away for the long term.

His words, “Do not take your children’s school fees and put in shares. Do not sell the house that you live in and put in shares.

“Buy what you can afford, 10,000, 20,000, 30,000 – what you can afford to set aside for some time, set it aside.

And if you look at the fundamentals of the economy, over time you can be assured that this investment will grow, and you will not regret it.

He also advised prospective investors to choose a long-term approach rather than buying shares in anticipation of quick profits.

“And I’m not talking about someone who will buy 5,000 shares and want to sell tomorrow and believe he will get 10,000. No, I’m talking about you have some money, put it in, leave it there for some time, and just watch your money grow.

Forget about it for some time. You’ll be surprised in five years the 10,000 Naira you invest today, what it will be,” Sanusi said.

Business

Nigerians Speak As Petrol sells N1,500/litre

A visit to filling stations showed that motorists were purchasing the commodity for between N1,450 and N1,500 per litre, against the former price of N1,350.

Published

1 day ago

September 17, 2026

OCHEFA

24 Views

NIGERIANS across the 36 states and the Federal Capital Territory – Abuja, are complaining bitterly as the pump prices of Premium Motor Spirit, popularly known as petrol, is selling for as much as N1,500 per litre nationwide .

According to the Prices across states tracked by the PUNCH, the cost of the commodity has continued to rise nationwide, selling for as high as N1,500 in many states.

In Yobe State, residents reported that petrol was selling for between N1,500 and N1,520 per litre at some filling stations in Damaturu, the state capital.

Similarly, a tricycle rider in the state capital, Musa Ibrahim, said he buys the commodity for about N1,500 per litre at some Nigerian National Petroleum Company filling stations.

Also speaking, a civil servant, Lawan Garba, said some filling stations were selling petrol at an even higher price.

“I am buying petrol at N1,520 per litre in some petrol stations,” Garba said.

In Kano State, petrol was selling for between N1,460 and N1,500 per litre at most filling stations in the metropolis. The increase has forced some vehicle owners to park their vehicles, while commercial tricycle operators, popularly known as “yan’ adaidaita sahu”, have also increased their fares by about 50 per cent, depending on the distance.

The operators who used to charge N200 for a short distance now collect N300, while they charge between N500 and N700 for longer distances.In Sokoto State, petrol prices rose to between N1,465 and N1,500 per litre in the metropolis.

Checks by our correspondent showed that the product had risen from the previous price of N1,365 per litre.

At some filling stations, including AA Rano, Shafa and Total, petrol was sold for N1,465 per litre, while major marketers sold it for between N1,470 and N1,500 per litre.

In Borno State, a litre of petrol was selling for N1,500 at filling stations in Maiduguri, the state capital.

A motorist, Ishaku Curutsi, confirmed to our correspondent that he bought petrol from Matrix filling station for N1,500 per litre on Wednesday. “I bought it this morning, and a litre at Matrix cost 1,500,” he said.

In Taraba State, the price of petrol had risen to N1,500 per litre, with motorists and commuters reporting prices of between N1,500 and N1,700 per litre at some filling stations.

The development is expected to further increase the cost of transportation and movement of goods within the state.In Zamfara State, a litre of petrol was selling for N1,500 in Gusau, the state capital, and its environs.

A visit to filling stations showed that motorists were purchasing the commodity for between N1,450 and N1,500 per litre, against the former price of N1,350.

At Danmarina filling station, motorists were seen purchasing the commodity amid complaints about the increase. One of the motorists, who gave his name as Musa Idris, said the current price was putting pressure on consumers.

• Culled from the PUNCH