The Dangote Petroleum Refinery on Sunday announced a reduction in its price of the Premium Motor Spirit (PMS), also known as petrol, to ?970 per litre for oil marketers.

The company’s Chief Branding and Communications Officer, Anthony Chiejina, disclosed this in a statement.

He said the decision is the refinery’s way of appreciating Nigerians “for their unwavering support in making the refinery a dream come true”.

According to the statement, the move is a cut from the refinery’s ?990 ex-depot price announced earlier this month.

“In addition, this is to thank the government for their support as this will complement the measures put in place to encourage domestic enterprise for our collective well-being,” the statement partly read.

“While the refinery would not compromise on the quality of its petroleum products, we assure you of best quality products that are environmentally friendly and sustainable.

“We are determined to keep ramping up production to meet and surpass our domestic fuel consumption; thus, dispelling any fear of a shortfall in supply.”

The slash would help marketers save about ?20 on each litre of petrol bought from the Lekki-based plant.

Dangote Refinery Reduces PMS Price To N970pic.twitter.com/tKx0knKzW5

—Dangote Group (@DangoteGroup) November 24, 2024. (Channels TV: Text, Excluding Headline)

•A fleet of trucks are seen lifting Premium Motor Spirit, known as petrol, at the refinery located in the Ibeju-Lekki area of Lagos State. Credit: X/ @DangoteGroup