Dangote Refinery Slashes Petrol to N890 – What This Means for Nigerians

By Achimi Muktar

In a major relief for Nigerians grappling with high fuel costs, Dangote Petroleum Refinery has announced a significant N60 per litre reduction in the ex-depot price of Premium Motor Spirit (PMS), slashing it from N950 to N890 per litre effective Saturday, 1st February 2025.

The refinery attributed the price cut to declining crude oil prices and a favorable shift in global energy markets. This move comes just weeks after Dangote Refinery raised petrol prices in response to rising crude costs, sparking concerns among consumers.

According to Anthony Chiejina, Group Chief Branding and Communications Officer, the reduction is expected to trigger a nationwide drop in fuel costs, leading to:

✅ Lower transportation expenses

✅ Eased inflationary pressure

✅ Reduced cost of living for millions of Nigerians

While the price slash is a welcome development, Dangote Refinery has urged petroleum marketers to reflect the new pricing at retail stations to ensure that the benefits reach the masses.

This price adjustment aligns with President Bola Ahmed Tinubu’s economic recovery plan, which seeks to:

With fuel costs playing a critical role in the economy, this development offers a glimmer of hope for both consumers and businesses.