Fuel for Thought: Dangote Praises Tinubu as PMS Prices Drop in Game-Changing Deal

By Achimi muktar

In a groundbreaking turn for Nigeria’s petroleum sector, Aliko Dangote, the celebrated business magnate and President of Dangote Industries Limited, has lauded President Bola Ahmed Tinubu for the transformative impact of the crude-for-naira swap deal. This innovative policy has not only stabilized the local currency but has also ushered in significant reductions in the price of Premium Motor Spirit (PMS) nationwide.

Dangote, known for his relentless drive to empower Nigerians, has taken bold steps to make high-quality petrol more affordable. At the Dangote Refinery’s loading gantry, PMS prices have dropped from N970 to N899.50 per litre—a move designed to bring relief to households across the country. But the billionaire isn’t stopping there. Through a strategic partnership with MRS, Dangote Refinery has slashed prices further, offering PMS at N935 per litre at MRS retail outlets nationwide. This new pricing structure, already active in Lagos, is set to expand across the country starting Monday.

“We’re not just reducing prices; we’re making sure these savings reach every Nigerian,” Dangote emphasized. “The Dangote Refinery exists to benefit Nigeria and Nigerians. Our mission is to deliver petrol that’s not only cheaper but also of the highest quality—good for vehicles, health, and wallets alike.”

The crude-for-naira deal, implemented on October 1 following approval by the Federal Executive Council, has alleviated pressure on the dollar while bolstering the naira. This visionary approach has reshaped the economic landscape, making domestic refining operations more viable and less reliant on foreign exchange.

Dangote called on other oil marketers, including NNPC Retail and independent players, to join forces in ensuring Nigerians enjoy discounted, top-tier petroleum products. “Collaboration across the value chain is key,” he urged, as he expressed gratitude to the government for fostering an enabling environment for the local refining industry.

With this partnership and policy alignment, Dangote’s vision of a robust, self-reliant petroleum industry is gaining traction, proving that innovative leadership and private sector ingenuity can drive Nigeria toward economic stability and prosperity.