The Dangote Petroleum Refinery has reduced the price of Premium Motor Spirit (PMS), commonly known as petrol, by 2%, lowering it from N990 to N970 per litre. This price adjustment, announced over the weekend, is part of the company’s initiative to appreciate Nigerians for their support.
Anthony Chiejina, Group Chief Branding and Communications Officer of Dangote Petroleum Refinery, highlighted the significance of this gesture in a statement, saying:
“As the year draws to a close, this reduction is our way of expressing gratitude to the Nigerian people for their unwavering support in realizing the refinery project. It also reflects our appreciation for the government’s backing, as we aim to enhance domestic enterprise for the benefit of all.”
Chiejina reassured consumers of the refinery’s commitment to delivering high-quality, environmentally friendly, and sustainable petroleum products. He also emphasized that the refinery is focused on increasing production to meet and exceed Nigeria’s fuel demand, thereby addressing concerns about supply shortages.
Meanwhile, oil marketers under the Petroleum Products Retail Outlets Owners Association of Nigeria (PETROAN) have initiated negotiations with the $20 billion Dangote Refinery. Billy Gillis-Harry, Chairman of PETROAN, confirmed the discussions, noting the importance of clear terms for the business relationship.
“We are negotiating concrete terms, including agreed quantities, pricing, and logistics on a daily, weekly, or monthly basis. This ensures seamless operations while minimizing delays and high operational costs,” he stated.
In a related development, members of the Major Energy Marketers Association of Nigeria (MEMAN) have begun lifting petrol directly from the Dangote Refinery. This follows federal government approval, allowing marketers to bypass the Nigerian National Petroleum Company Limited (NNPCL) in the supply chain.
The Dangote Refinery’s price reduction and expanded distribution efforts signify its commitment to stabilizing Nigeria’s fuel market and supporting local enterprises.
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