In a significant move to provide relief to Nigerians amid rising economic pressures, the Dangote Petroleum Refinery has once again lowered the pump price of Premium Motor Spirit (PMS), reducing it by N15 per litre. The new price takes immediate effect, with petrol now retailing at N875 per litre in Lagos, while varying slightly across other regions.
Under the updated pricing structure, motorists in the South West will now pay N885 per litre, while those in the North West and North Central regions will buy at N895 per litre. In the South East, South South, and North East zones, the new price has been pegged at N905 per litre.
This fresh adjustment follows a series of price cuts introduced by the refinery since the beginning of 2025. Notably, in February alone, the company implemented a total reduction of N125 per litre across two phases, and followed up with an additional N45 drop in April. These cuts reflect a strategic effort to cushion the impact of fuel prices on citizens and businesses, in line with the company’s broader agenda to stabilise the domestic energy market.
The Dangote Group, through a statement released on Wednesday, disclosed that the revised prices will be applied across its extensive network of distribution partners, which include major players like MRS, Ardova (AP), Heyden Petroleum, Optima Energy, Techno Oil, and Hyde Energy. The company also used the opportunity to urge independent marketers to adopt its pricing model and support President Bola Ahmed Tinubu’s “Nigeria First” policy, which encourages patronage of locally refined products and services.
Since commencing commercial operations, the Dangote Refinery has taken decisive steps to make fuel more affordable, positioning itself as a key player in Nigeria’s energy transition and economic stability agenda. Beyond PMS, the refinery has also implemented substantial price reductions on diesel and liquefied petroleum gas (LPG), bringing noticeable relief to the transport, industrial and domestic energy sectors.
Dangote Petroleum Refinery reaffirmed its commitment to maintaining stable prices despite global crude oil market fluctuations. According to the company, domestic refining at its state-of-the-art facility has shielded Nigeria from external shocks and contributed significantly to foreign exchange savings by reducing import dependence.
“Refining petroleum products locally at the world’s largest single-train refinery enables us to support national energy security while easing the burden on Nigerian consumers. This aligns with the economic vision under President Bola Tinubu’s Renewed Hope Agenda,” the company stated.
It also acknowledged the Federal Government’s support through the Naira-for-Crude Initiative, which it described as instrumental in sustaining downward price adjustments. The scheme allows local refiners to access crude oil using the naira, helping to stabilise supply and reduce exposure to volatile foreign exchange markets.
In addition to ensuring consistent fuel availability to meet local demand, the refinery confirmed that it maintains a strategic reserve for exports, thereby bolstering Nigeria’s foreign exchange earnings and trade balance.
Meanwhile, in a separate development, the founder of the Dangote Group, Alhaji Aliko Dangote, has received international recognition as he was named among TIME Magazine’s 2025 TIME100 Philanthropy list. The list celebrates individuals making a significant global impact through charitable work.
Dangote, who features in the prestigious “Titans” category, joins the ranks of global philanthropic figures such as Michael Bloomberg, Warren Buffett, Melinda Gates, and Oprah Winfrey. His foundation is reported to spend over $35 million annually on programmes that advance healthcare, education, and economic empowerment across Africa.
The Dangote Refinery, located in the Lekki Free Trade Zone, Lagos, stands as the largest single-train refinery globally. It represents a cornerstone of Nigeria’s ambition to achieve energy independence and economic resilience, positioning the country as a leading force in Africa’s refining landscape.
