In a major development that could bring relief to millions of Nigerians, the Dangote Petroleum Refinery has reportedly slashed the pump price of Premium Motor Spirit (PMS) to N699 per litre.
The sharp reduction marks the lowest petrol price Nigeria has seen since the removal of fuel subsidy, and signals what analysts describe as a potential turning point in the country’s energy and economic landscape.
Sources within the refinery confirmed early Friday that the new pricing structure takes immediate effect as distribution commences to major marketers nationwide. Independent marketers are also expected to begin loading at the adjusted rate within the coming days.
Economists say the price cut could ease inflationary pressures, reduce transportation costs, and spark competition among import-dependent marketers. It also reinforces the refinery’s growing capacity to supply the domestic market following weeks of intensified production.
The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) is yet to issue an official statement, but government insiders suggest coordination is ongoing to ensure nationwide rollout.
More details to follow…
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