Dangote Petroleum Refinery and Petrochemicals has slashed its ex-depot price of petrol, also known as Premium Motor Spirit (PMS), from N865 to N835 per litre.
The refinery had previously reduced its gantry price from N880 to N865 per litre; however, oil marketers did not pass on the savings to consumers.
The $20 billion, 650,000-barrel-per-day facility communicated the new pricing to its marketers and customers on Wednesday.
Confirming the development, a refinery official stated that the price review had taken effect.
Following the meeting, the federal government, in a report by Tribune Online, reaffirmed that the naira-for-crude-oil policy remains in place, describing it not as a temporary intervention but as a “key policy directive designed to support sustainable local refining.”
