Written by Faith Mwende
Dangote Petroleum Refinery & Petrochemicals has reiterated its promise to maintain stable petrol prices in Nigeria, despite the volatility in global crude oil markets.
The company stated that this commitment is part of its broader goal to support the national economy and ease the burden of fuel expenses on everyday consumers.
In a statement released on Monday night, Anthony Chiejina, the Group Chief Branding and Communications Officer, emphasized that the refinery has consistently reduced the cost of Premium Motor Spirit (PMS), commonly known as petrol, even as global oil prices fluctuate.
“Dangote Petroleum Refinery and Petrochemicals reaffirms that, despite the fluctuations in global crude oil prices, we have consistently reduced the price of Premium Motor Spirit (PMS), commonly known as petrol.
“It underscores our dedication to providing affordable, reliable, and high-quality petroleum products without compromising operational efficiency and sustainability,” the statement said.
The company noted that its pricing policy is in line with the federal government’s Nigeria First initiative, which encourages the use and production of local goods and services.
By processing petroleum locally at the world’s largest single-train refinery, Chiejina highlighted that Dangote is contributing to national energy stability, preserving foreign reserves, and boosting economic resilience goals that align with President Bola Tinubu’s Renewed Hope Agenda.
“We are proud to make a substantial contribution to Nigeria’s energy security, foreign exchange savings, and overall economic resilience aligning with President Bola Tinubu’s Renewed Hope Agenda, which is focused on addressing the nation’s economic challenges and improving the well-being of Nigerians.
“We are immensely grateful to His Excellency, President Bola Tinubu, for making this possible through the commendable Naira-for-Crude Initiative, which has enabled us to consistently reduce the price of petroleum products for the benefit of all Nigerians. We assure all stakeholders consumers, partners, and the government of our continued dedication to operational excellence and national service.”
The refinery added that it is determined to ensure Nigerians reap the full benefits of local refining and will continue to focus on affordability, quality, and national interests.
Last month, Dangote announced a reduction in its petrol price to retailers, bringing it down from N865 to N835 per litre.
On the global front, oil prices saw a modest increase on Monday, with Brent crude rising by 13 cents to $65.54 a barrel and U.S. West Texas Intermediate gaining 20 cents to settle at $62.69 a barrel. Both benchmarks had recorded gains of over 1% in the previous week.
