The Dangote Petroleum Refinery & Petrochemicals has reaffirmed its commitment to consistently reducing the price of Premium Motor Spirit (PMS), popularly known as petrol, despite the fluctuations in global crude oil prices.
This effort, the company says, is aimed at easing the financial pressure on ordinary Nigerians.
In a statement signed by the Group Chief Branding and Communications Officer, Anthony Chiejina, the company emphasised that its decision to maintain stable and downward-trending prices reflects its dedication to supporting the Nigerian economy.
Dangote noted that this approach is part of a broader effort to shield consumers from the impact of global oil market volatility by ensuring steady and affordable pricing.
The company also stressed that its operations are driven by a mission to provide affordable, reliable, and high-quality petroleum products, while maintaining efficiency and environmental sustainability.
“Our approach aligns with the objectives of the Federal Government’s Nigeria First policy, which promotes the prioritisation of locally-produced goods and services,” the statement read.
By refining products at its Ibeju-Lekki-based facility—currently the world’s largest single-train refinery—Dangote said it is making a significant contribution to national energy security, conserving foreign exchange, and boosting the resilience of the local economy.
This, the company added, is in line with President Bola Tinubu’s Renewed Hope Agenda, which focuses on addressing Nigeria’s economic challenges and improving citizens’ welfare.
In an update provided late Monday to Channels Television, the company reiterated that its pricing policy is also aided by the Federal Government’s Naira-for-Crude Initiative.
“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,” Chiejina stated.
At the same time, Channels Television market checks on Tuesday indicated that Brent crude had fallen slightly, trading at $65.15 per barrel at 8:43 a.m. WAT—down 39 cents (0.60%) from the previous day’s close of $65.54.
Although Chiejina had previously denied certain reports in a telephone conversation with Channels Television, it has emerged that the refinery, for the second time in May, reduced its petrol price—this time to ₦825 per litre, down from ₦865.
This clarification from the refinery comes amid ongoing tensions between Aliko Dangote and independent oil marketers, many of whom have resumed importing petroleum products into Nigeria.
According to the latest Tanker Position Report obtained from Blue Sea Maritime, over 496.17 million litres of petrol were brought into the country between May 11 and 20, 2025.
1The report, which tracks tanker movements, showed that 370,000 metric tonnes of petrol were discharged at various Nigerian depots during the period.
Nonetheless, Chiejina assured stakeholders, including consumers, government, and business partners—of the refinery’s continued commitment to national service and excellence.
“Dangote Petroleum Refinery remains committed to ensuring that the benefits of our local refining capacity are fully realised and enjoyed by the Nigerian populace. We will continue to prioritise affordability, quality, and national interest in every facet of our work,” he added.
