The Dangote Refinery announced that it is collaborating with MRS to offer Premium Motor Spirit or petrol at ₦935 per litre across the country at its retail locations.
The move follows a price cut by the Nigerian National Petroleum Company Limited, NNPCL, below ₦1,000 per litre.
Aliko Dangote, the president of Dangote Industries Limited, praised President Bola Tinubu in a statement published on his X account on Saturday for the benefits of the naira for crude swap agreement, which has lowered the cost of petroleum products in Nigeria.
To help Nigerians, Dangote recently lowered the price of Premium Motor Spirit (PMS) from N970 to N899.50 at its refinery loading gantry and gave marketers generous credit terms.
According to the statement, “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 price has already started in Lagos and will be offered nationwide starting Monday.
Dangote also urged other oil marketers, including NNPC Retail and all other marketers, “to work with us to ensure that Nigerians enjoy high-quality petrol at discounted prices.”
“The Dangote Refinery is for the benefit of Nigeria and Nigerians,” he asserted.
“As a result, we will keep collaborating with different value chain participants to provide premium petrol at reduced costs. Our goal is for every Nigerian to have easy access to premium petroleum products that are affordable, healthy, and beneficial for their cars.”
Under President Bola Tinubu’s direction, the Federal Executive Council (FEC) authorised the sale of crude to nearby refineries in Naira in September, along with the matching purchase of petroleum products in the same currency.
Beginning on October 1, the action guaranteed the stability of the local currency and lessened pressure on the dollar.
