By Adedapo Adesanya
The Dangote Petroleum Refinery on Sunday announced a reduction in the price of the Premium Motor Spirit (PMS), also known as petrol, to N970 per litre for oil marketers.
The slash would help marketers save about N20 on each litre of petrol bought from the 650,000 barrels per day Lekki-based plant as Christmas approaches.
The company’s Chief Branding and Communications Officer, Mr Anthony Chiejina, disclosed this in a statement on Sunday, saying the decision is the refinery’s way of appreciating Nigerians, as the year nears its end.
“As the year comes to an end, this is our way of appreciating the good people of Nigeria for their unwavering support in making the Refinery a dream come true. 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,” a part of the statement read.
According to the statement, the move is a cut from the refinery’s N990 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 the 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.”
Business Post reports that this could trigger others to also reduce their prices to retain customers.
The refinery, which is the largest in Africa, is also planning to ramp up production, as tt has opened up bids for investors for fresh capital.
Dipo Olowookere