Dangote Petroleum Refinery has announced a temporary price cut for its Premium Motor Spirit (PMS), commonly known as petrol, reducing the price from N970 to N899.50 per litre. This discount is part of a special holiday promotion for the festive season.
According to a statement from Anthony Chiejina, who is the Group Chief Branding and Communications Officer for Dangote Group, the company is also offering a unique deal. For every litre of petrol purchased with cash, customers can buy an additional litre on credit. This credit purchase is supported by a bank guarantee from one of three banks: Access Bank, First Bank, or Zenith Bank.
Chiejina explained that the purpose of this price reduction is to help lower transportation costs for Nigerians during the holiday season, making it easier for families to travel and celebrate. He emphasized that the petrol will be sold at the new price of N899.50 per litre at the refinery’s truck loading area or Single Point Mooring (SPM).
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In addition to the price cut, Chiejina expressed appreciation to Nigerians for their support as the country approaches the festive season. He also reiterated the refinery’s commitment to providing high-quality fuel that is fairly priced and safe for both vehicles and the environment. The refinery aims to ensure that Nigeria is not reliant on low-quality imported fuels, which can be harmful to health, machinery, and the environment.
Key Points to Note:
- Just last month, the Dangote refinery had already reduced its petrol price from N990 to N970.
- This latest price drop is specifically timed for the holiday season.
- The Dangote Refinery is the largest single-train refinery in the world, with the capacity to process 650,000 barrels of crude oil per day. Although it is currently not operating at full capacity, when it does, it will be able to meet most of Nigeria’s petrol needs and reduce the need for imports.
- The refinery is already exporting petrol to several African countries, including Ghana, Cameroon, Gabon, and South Africa. It has also begun selling diesel and jet fuel to European markets.
- Industry experts from S&P Global have predicted that once the Dangote refinery reaches its full operating capacity, it could significantly change the dynamics of international oil trade.
Summary
This holiday season, Dangote Petroleum Refinery is making petrol more affordable for Nigerians while also encouraging responsible fuel use and supporting local economic growth.
