Dangote Refinery has partnered with MRS Oil and Gas to offer petrol at ₦935 per litre through MRS retail outlets nationwide.
This initiative follows a reduction in the ex-depot price from ₦970 to ₦899.50 per litre, aiming to alleviate transportation costs during the festive season.
The refinery made this disclosure in a statement via its social media handle on Saturday.
The company the partnership is designed to ensure that the reduced price of ₦935 per litre reaches consumers directly, making petrol more accessible and affordable, particularly during the festive period.
On Thursday, Dangote Refinery, with a capacity of 650,000 barrels per day, announced a ₦71 reduction in its ex-depot price, setting it at ₦899.50 per litre for marketers and offering credit facilities to support purchases.
This has sparked a pricing competition in the downstream sector, leading the Nigerian National Petroleum Company Limited to match the price at ₦899 per litre.
The statement read, “Foremost entrepreneur and President of the Dangote Industries Limited, Aliko Dangote, has commended President Bola Ahmed Tinubu for the positive impact of the naira for crude swap deal on the Nigerian economy, which has led to a reduction in prices of petroleum products in the country.
“To provide succour to Nigerians, Dangote recently reduced the price of Premium Motor Spirit from N970 to N899.50 at its Refinery loading gantry and provided generous credit terms to marketers.
“To ensure that this price reduction gets to the end consumer, we have signed a partnership with MRS to sell petrol from its retail outlets nationwide at N935 per litre.”
The new pricing has already commenced in Lagos and is scheduled to be implemented nationwide starting Monday, December 23, 2024.
Dangote Refinery, in its statement urged other oil marketers, including NNPC Retail and others, to collaborate in ensuring Nigerians benefit from high-quality petrol at reduced prices.
“The Dangote Refinery is for the benefit of Nigeria and Nigerians. We will, therefore, continue to work with various value chain players to deliver high-quality petrol at cheaper prices. Our aim is for all Nigerians to have ready access to high-quality petroleum products that are good for their vehicles, good for their health, and good for their pockets,” the refinery stated.
In September, under the leadership of President Tinubu, the Federal Executive Council approved a policy enabling the sale of crude oil to local refineries and the purchase of petroleum products in Naira.
This development is part of a broader effort to reduce the cost of petroleum products in Nigeria.
