In a rare show of transparency within Nigeria’s opaque petroleum sector, the Dangote Refinery on Wednesday announced a nationwide reduction in the price of Premium Motor Spirit (PMS) for the second time in one week.
According to a statement by the Group Chief Branding and Communications Officer of the Dangote Group, Anthony Chiejina, the gantry price of petrol has dropped from N865 to N835 per litre, effective April 16, 2025. This price cut will reflect at partner retail outlets including MRS, AP (Ardova), Heyden, Optima Energy, Hyde, and Tecno Oil.
Retail prices have been adjusted across regions:
- Lagos: N890 (down from N920)
- South-West: N900 (down from N930)
- North-West/North-Central: N910 (down from N940)
- South-East/South-South/North-East: N920 (down from N950)
The company emphasized its commitment to affordable, high-quality fuel and said it is working with partners to ensure these reductions are reflected at the pump. It also noted that past price cuts including two in February totaling N125 and lower costs of diesel and LPG have provided relief to consumers.
Meanwhile, the Group Chief Executive Officer of the Nigerian National Petroleum Company Limited (NNPC), Mr. Bashir Bayo Ojulari, has reaffirmed his dedication to fostering strategic partnerships aimed at achieving the national oil sector mandate.
During a courtesy visit to the Minister of State for Petroleum Resources (Oil), Senator Heineken Lokpobiri, Ojulari emphasized collaboration with the Ministry of Petroleum, Finance, and other stakeholders as key to progress.
“We are here with a mindset of partnership. Antagonism benefits no one; collaboration is how we win,” he stated.
In response, the minister expressed confidence in the new NNPC leadership, describing it as “arguably the strongest ever” and pledging full support to drive results, especially in increasing crude oil production and ensuring value for Nigerians.
Both developments signal a renewed focus on transparency, affordability, and effective leadership within Nigeria’s oil and gas industry.
Edited by Nzubechukwu Eze
