Business
Dangote Refinery Announces Further PMS Price Reduction.
Dangote Refinery has announced a further reduction in the ex-depot price of Premium Motor Spirit (PMS), bringing it down to N835 per litre from the previous N865. This N30 decrease, communicated to customers via notice on Wednesday, follows a reduction to N865 just six days prior.
This adjustment is expected to translate to lower retail prices at partner stations, such as MRS, with potential reductions from N940 per litre anticipated.
The price reduction coincides with regulatory approval for the importation of 117,000 metric tonnes of petrol between April 8th and 16th, 2025. However, industry analysts, including the Independent Petroleum Marketers Association (IPMAN), caution against expecting a drastic price crash due to demand/supply dynamics and foreign exchange fluctuations, even with the renewal of the naira-for-crude deal.