In another move to ease the burden of high fuel costs on Nigerians, Dangote Petroleum Refinery & Petrochemicals has announced a further reduction of N15 in the price of Premium Motor Spirit (PMS), commonly known as petrol. This latest cut sees the product now retailing at N875 per litre in Lagos.
The new pricing structure varies across the country:
N875 per litre in Lagos
N885 in the South West
N895 in the North West and North Central
N905 in the South East, South South, and North East
The adjusted prices are effective immediately through the refinery’s expanding network of distribution partners, including MRS, AP (Ardova), Heyden, Optima Energy, Techno Oil, and Hyde.
Dangote Refinery encouraged other marketers to align with its pricing model as a show of support for President Bola Tinubu’s Nigeria First policy, which promotes the use of domestically-produced goods and services.
Since beginning operations, the refinery has consistently lowered fuel costs. In February 2025, it implemented two consecutive price cuts totaling N125 per litre, followed by another N45 reduction in April. Diesel and Liquefied Petroleum Gas (LPG) prices have also seen significant declines.
The company reaffirmed its long-term commitment to economic relief and national development, stating:
“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.”
It also credited the federal government’s Naira-for-Crude Initiative for enabling the downward trend in fuel prices.
“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.”
The refinery assured citizens of stable prices and a steady supply of fuel products, both for domestic use and export, in a bid to boost Nigeria’s foreign exchange earnings.
In a related development, the refinery’s founder, Aliko Dangote, was recently named to TIME Magazine’s inaugural TIME100 Philanthropy List for 2025, recognizing his impactful contributions to charitable work across Africa, with his foundation reportedly spending over $35 million annually on development programs.