Dangote Petroleum Refinery has reduced the price of its Premium Motor Spirit (PMS) product from N970 to N899.50k per litre, as a holiday promo in the Yuletide season.
According to a statement by the Group Chief Branding and Communications Officer of Dangote Group, Anthony Chiejina, the company is also giving a special offer in which consumers are allowed to purchase an additional litre of fuel on credit for every litre bought on a cash basis.
“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. Furthermore, for every litre purchased on a cash basis, consumers will have the opportunity to buy another litre on credit, backed by a bank guarantee from Access Bank, First Bank, or Zenith Bank,” the statement read.
Chiejina noted that the price reduction is aimed at easing transport costs for Nigerians during the festive period.
The refinery also expressed its gratitude to Nigerians for their continued support as the country enters the festive season.
Chiejina further stressed the refinery’s commitment to providing Nigerians with access to premium quality petroleum products that are competitively priced, as well as environmentally and engine friendly.
He noted that the refinery is committed to ensuring that Nigeria is no longer a dumping ground for substandard and ‘blended’ imported products, which have posed significant risks to human health, machinery, and the environment.
What you should know
- The Dangote refinery, in November, reduced its PMS price from N990 to N970.
- The latest price reduction is targeted towards the Yuletide season.
- The Dangote Refinery, with a capacity of 650,000 barrels per day (BPD), is the largest single-train refinery in the world.
- It is not operating up to its full capacity yet, but when it is, it can meet most of Nigeria’s petroleum demand, and reduce exports
- Nairametrics reported that the Dangote Refinery is currently exporting petrol to at least four African countries, including Ghana, Cameroon, Gabon and South Africa.
- The refinery has also expanded to European markets to which it exports diesel and jet fuel.
- Standard & Poor Global’s trading experts recently predicted that the Dangote refinery would shake up international crude flows when it reaches full capacity. It is currently operating at about 50% capacity.