The Dangote Petroleum Refinery has reduced the ex-depot prices of Premium Motor Spirit (petrol) and Automotive Gas Oil (diesel) in a move aimed at making refined petroleum products more affordable for consumers.

Under the revised pricing structure, the refinery cut the ex-depot price of petrol by N50, from N1,215 per litre to N1,165 per litre, while the price of diesel was reduced by N80, from N1,650 per litre to N1,570 per litre.

In a statement issued on Wednesday, the Dangote Group said the price adjustment is intended to improve energy affordability, expand access to refined petroleum products and support economic activities across Nigeria.

The refinery said the price reduction underscores its commitment to supplying affordable, high-quality petroleum products to the Nigerian market.

It added that it remains focused on maintaining a stable supply of refined products while leveraging operational efficiencies to deliver greater value to consumers, businesses, and other stakeholders.

The refinery added that it remains committed to ensuring a stable supply of refined petroleum products while leveraging operational efficiencies to deliver greater value to consumers, businesses, and other stakeholders.

“Dangote Petroleum Refinery has announced a reduction in the ex-depot prices of Premium Motor Spirit (PMS) and Automotive Gas Oil (Diesel), reaffirming its commitment to providing affordable, high-quality petroleum products to the Nigerian market.

“Under the new pricing structure, the refinery has reduced the ex-depot price of PMS to N1,165 per litre, down from N1,215 per litre, representing a reduction of N50 per litre. Similarly, the ex-depot price of Diesel has been reduced to N1,570 per litre from N1,650 per litre, amounting to a decrease of N80 per litre.

“The price review reflects Dangote Refinery’s ongoing efforts to enhance energy affordability, improve access to refined petroleum products, and support economic activities across Nigeria,” the statement read partly.