Dangote Refinery has announced a reduction in the ex-depot price of premium motor spirit (PMS), commonly known as petrol, to N899.50 per litre. This move is aimed at alleviating transport costs during the festive season, a time when many Nigerians travel to celebrate with family and friends.

The refinery, which has a daily capacity of 650,000 barrels, had previously adjusted the price to N970 per litre on November 24. This latest reduction is a further effort to ease the financial burden on consumers during the holiday period.

According to Anthony Chiejina, Group Chief Branding and Communications Officer for Dangote Group, the price reduction offers relief to Nigerians during the festive season. "To alleviate transport costs during this holiday season, Dangote Refinery is offering a holiday discount on PMS. From today, our petrol will be available at N899.50 per litre at our truck loading gantry or SPM," said Chiejina.

In addition to the price reduction, consumers can now purchase an additional litre of fuel on credit for every litre bought with cash, providing extra value to customers during this period. This credit purchase option is backed by a bank guarantee from Access Bank, First Bank, or Zenith Bank.

The Dangote Refinery, which is fully equipped to meet 100% of Nigeria's refined petroleum product needs, with additional export capacity, has been a game-changer in the Nigerian energy sector. Its operations mark the end of Nigeria being a dumping ground for substandard and 'blended' imported products, which have posed significant risks to human health, machinery, and the environment.

Chiejina emphasized the refinery's dedication to providing Nigerians with access to premium quality, competitively priced petroleum products that are both environmentally and engine-friendly. This commitment to quality and affordability is expected to have a positive impact on the Nigerian economy, particularly during the festive season.

The reduction in petrol price is a welcome development for many Nigerians, who will benefit from the cost savings during the holiday period. As the largest single-train refinery in the world, Dangote Refinery's efforts to make petroleum products more affordable and accessible are likely to have far-reaching implications for the Nigerian energy sector and the economy at large.

With this move, Dangote Refinery is not only demonstrating its commitment to the Nigerian market but also setting a new standard for the energy industry in Africa. As the continent's largest refinery, Dangote Refinery's influence extends beyond Nigeria's borders, and its efforts to promote affordable and sustainable energy solutions are likely to have a ripple effect across the region.