Dangote Petroleum Refinery and Petrochemicals has announced a modest realignment of its Premium Motor Spirit (PMS) ex-gantry price, moving from N699 per litre to N799 per litre.

The price adjustment follows the conclusion of a temporary “price support intervention” designed to ease the financial burden on Nigerian households during the recent festive season. Consequently, partner retail outlets, such as MRS, are expected to retail the product at approximately N839 per litre.

In an official statement, the refinery explained that the previous lower rate was a deliberate, temporary measure. This marks the second consecutive year the refinery has absorbed significant costs in the national interest providing logistics support in 2024 and a direct price reduction in 2025.

However, the refinery noted with concern that the benefits of its recent price reduction were not always passed on to the public.

“Despite the price reduction, many filling stations failed to reflect the new price at the pump, thereby denying Nigerians the benefits of the reduction,” the company stated.

With the yuletide period over, the refinery maintains that the new N799 rate is a “sustainable level” necessary to ensure long-term market stability.

Despite the price change, the refinery’s CEO, David Bird, reassured the public that supply remains robust. The facility continues to pump approximately 50 million litres of PMS daily into the domestic market.

Bird highlighted the technical advantages of the facility, noting that its design flexibility allows it to process various crude and intermediate feedstocks. This ensures that even during planned maintenance, the nationwide evacuation and distribution of petrol remain uninterrupted.

“As a domestic producer, Dangote Petroleum Refinery continues to shield the Nigerian market from import-related volatility… remaining a stabilising force in the downstream petroleum sector,” the statement concluded.

Source: Thenationonlineng