The reduction of the price is coming barely a week after the last one.

It would be recalled that the company last week reduced its ex-depot price from N880 to N840 per litre.

With assurance of steady supply of petroleum products, more independent marketers have joined the growing list of distributors retailing Dangote refinery’s high-quality petroleum products across the country, the company said.

Dangote Group’s spokesperson, Mr. Anthony Chiejina, confirmed the price adjustment in Lagos, stating: “PMS price has been reduced from N840 to N820 per litre effective immediately.”

The previous reduction to N840 per litre had followed global crude oil market volatility, particularly during the 12-day geopolitical crisis in the middle east, which pushed up crude oil prices.

The refinery’s existing partners—MRS, Heyden, Ardova (AP), Hyde, Optima, and Techno Oil—are expected to reflect the new pricing at their retail outlets.

Additionally, several new marketing companies have joined Dangote’s distribution network.

These include TotalEnergies, Garima Petroleum, Sunbeth Energies, Sobaz Nigeria Ltd., Virgin Forest Energy, Sixxco Oil Ltd., N.U. Synergy Ltd., and Soroman Nigeria Ltd.

Others on the growing list are Jezco Oil Nigeria Ltd., Jengre, Cocean, Kifayat, Triumph Golden, Sifem Global, Riquest, and Mamu Oil, among others.

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Dangote refinery, the largest single-train refinery in the world, continues to expand its domestic fuel distribution footprint, offering competitive pricing and improving access to refined products across Nigeria.

The refinery, recently, announced that it had invested over N720 billion to implement its initiative of deploying 4,000 Compressed Natural Gas-powered trucks for the nationwide distribution of petroleum products, saying it was expected to save Nigerians over N1.7 trillion annually.

This step, the management said, would see the refinery absorb over N1.07 trillion annually in fuel distribution costs.

The initiative is also poised to significantly benefit over 42 million Micro, Small and Medium Enterprises, MSMEs, by reducing energy costs and enhancing profitability, the mega refinery said.

The initiative, which eliminates transportation costs for fuel marketers and large-scale consumers, is expected to help reduce pump prices and inflation.

From August 15, Dangote will begin the direct delivery of petrol and diesel to filling stations, industrial facilities, and other high-volume consumers, the company said earlier.

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As a result of this reduction, Nigerians will now purchase the product at the following prices: N875 per litre in Lagos; N885 per litre in the South West; N895 per litre in the North West and North Central, while it will be sold for N905 per litre in the South East, South South, and North East.

These prices will apply through all its partners, including MRS, AP (Ardova), Heyden, Optima Energy, Techno Oil, and Hyde.

The refinery called on other marketers to join its expanding network of partners, thereby demonstrating their support for President Bola Tinubu’s Nigeria First policy, which advocates for the prioritisation of locally-produced goods and services

Since the commencement of operations, Dangote Petroleum Refinery has consistently implemented cost-reduction strategies aimed at delivering tangible savings to Nigerians.

In February 2025, the company carried out two price reductions on petrol, resulting in a total decrease of N125 per litre.

This was followed by a further reduction of approximately N45 per litre in April.

Additionally, the prices of other key products, such as diesel and Liquefied Petroleum Gas, LPG, have been significantly lowered, improving affordability across transportation, industrial, and domestic energy sectors.

Dangote Petroleum Refinery recently reassured Nigerians of price stability despite fluctuations in global crude oil prices, reaffirming its commitment to supporting Nigeria’s economy.

“By refining petroleum products domestically at the world’s largest single-train refinery, 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 focuses 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,” it stated.

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Dangote Petroleum Refinery further assures the public of a consistent supply of petroleum products, with sufficient reserves to meet domestic demand, as well as a surplus for export to enhance the country’s foreign exchange earnings.

The founder of Dangote Refinery, Aliko Dangote, was named on Tuesday in the inaugural 2025 TIME100 Philanthropy list, which recognises the 100 most influential leaders shaping the future of philanthropy worldwide.

The list, published by TIME Magazine, includes Aliko Dangote, whose Foundation spends an average of $35 million annually on programmes across Africa, alongside other global figures in charitable work, such as Michael Bloomberg, Oprah Winfrey, Warren Buffett, and Melinda Gates, all of whom were recognised as Titans.

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The reduction takes effect from Wednesday, April 16, 2025.

The reduction makes the second within a week.

The announcement was made on Wednesday by the Group Chief Branding and Communications Officer, Anthony Chiejina.

High-quality Dangote petrol, Chiejina said, would now be available at the following prices across all Dangote’s partner retail outlets:

Key partners, including MRS, AP (Ardova), Heyden, Optima Energy, Hyde and Techno Oil, will offer petrol at N890 per litre, down from N920 in Lagos.

In the South-West, the price will be N900 per litre, reduced from N930.

In the North-West and North-Central, the price will be N910 per litre, lowered from N940.

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In the South-East, South-South, and North-East, the price will be N920 per litre, down from N950.

The price reductions was said to reaffirm the company’s commitment to providing high-quality petrol at affordable rates, benefitting consumers across the nation.

“In addition, we are working collaboratively with our partners to ensure equitable reflection of this price reduction,” the company said.

The statement reads further: “Dangote Petroleum Refinery has consistently worked to reduce the prices of petrol and other refined petroleum products, ensuring the continued benefit of Nigerian consumers. For example, in February, the refinery reduced prices twice by N125.  In addition, products such as diesel and Liquefied Petroleum Gas (LPG) have also experienced significant price reductions due to the refinery’s sustained efforts.

“We anticipate that this latest reduction in PMS prices will generate a positive ripple effect throughout various sectors of the economy, providing much-needed relief to consumers and contributing to broader economic growth, particularly during the Easter season.

“Dangote Petroleum Refinery remains steadfast in its commitment to ensuring a steady supply of premium-quality petroleum products, with sufficient reserves to meet domestic demand, along with a surplus for export. This strategy is designed to support the stability of the domestic market while also contributing to the growth of Nigeria’s foreign exchange reserves.

Furthermore, Dangote Petroleum Refinery calls on industry stakeholders, including marketers and distributors, to continue sourcing their products from the refinery, ensuring that the benefits of these price reductions are fully realised across the country.”

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This move follows the refinery’s recent reduction of its gantry price from N890 per litre to N825 per litre.

The refinery stated that that was part of its ongoing efforts to ensure that Nigerians were the primary beneficiaries of the price reduction and in line with President Bola Tinubu’s Renewed Hope Agenda, which aims to stimulate the economy.

In a statement issued over the weekend, the refinery confirmed it would refund N65 per litre on the over 200,000 metric tonnes of PMS purchased by marketers at the old gantry price of N890 per litre, prior to the new rate of N825 per litre.

Dangote refinery also absorbed N16bn loss by refunding N65/litre to marketers for Nigerians to benefit from cheaper fuel.

“The step, effective February 27, 2025, guarantees that none of our valued business partners will experience a loss due to the price change. More importantly, it ensures that the new, lower rate takes immediate effect nationwide for the benefit of the Nigerian people,” the statement reads in part.

The refinery emphasised that the initiative extended beyond MRS Holdings, Ardova Plc (AP), and Heyden.

It urged other marketers sourcing stock from it to pass on the benefits of the new pricing to consumers at the retail level, encouraging a collective commitment to affordable, quality products.

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Dangote also condemned any exploitation of the new pricing structure.

“It is both unpatriotic and detrimental to the welfare of Nigerians for any party to purchase at a rate of N825 per litre and then sell to consumers at N945 or more per litre. This constitutes excessive profiteering, further burdening Nigerians for personal gain,” the statement reads.

“Dangote Refinery in its effort to ensure good quality and affordable fuel for Nigerians, is working with its partners to make this price accessible. Consumers who purchase fuel above the advertised rate at any of its key partners – AP (Ardova Plc), Heyden, or MRS – anywhere in Nigeria, are encouraged to report to Dangote Refinery with their receipts for a full refund of the excess amount.

The approved rates per litre are as follows: MRS: N860 in Lagos, N870 in the South-West, N880 in the North, and N890 in the South-South and South-East; Heyden and AP: N865 in Lagos, N875 in the South-West, N885 in the North, and N895 in the South-South and South-East.

With the new gantry price set at N825 per litre, Dangote Refinery expects that no Nigerian will pay more than N900 per litre for PMS, regardless of location or petrol station.

The refinery also underlined its commitment to providing high-quality, eco-friendly fuel that benefits vehicle performance and supports public health.

“Our commitment aligns with the objectives of President Bola Tinubu’s Renewed Hope Agenda, which champions self-sufficiency in critical sectors like energy. We remain dedicated to supporting Nigeria’s economic growth and ensuring every Nigerian has access to affordable, high-quality energy solutions,” the refinery said.

Dangote Refinery concluded, “This initiative is one of many ways Dangote Petroleum Refinery & Petrochemicals continues to contribute to a prosperous and sustainable future for our country. In this journey toward energy security, we stand united with the Nigerian people, always striving to provide lasting solutions and a more prosperous future for all.”

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It has cut N65 off the previous price of N890, bringing it down to N825 per litre at the gantry (ex-depot).

This follows a N60 reduction on February 1.

The ex-depot price has thus decreased from N950 per litre in January to the current price of N825 per litre, representing a reduction of N125 per litre within 26 days.

This recent price reduction will also ensure that Nigerians pay between N860 and N865 per litre for petrol at the pump in Lagos.

In a statement from the first privately owned petroleum refinery in Africa, it was announced that the price adjustment will take effect from Thursday, February 27, and is intended to provide essential relief to Nigerians.

“This strategic price adjustment is designed to provide essential relief to Nigerians in celebration of the Ramadan season, while also supporting President Bola Ahmed Tinubu’s economic recovery policy by alleviating the financial burden on the Nigerian populace.

“It is important to note that Dangote Petroleum Refinery has consistently lowered the prices of petrol and other refined petroleum products to the benefit of Nigerians. This marks the second reduction of PMS prices in February 2025, following a previous decrease of N60 earlier in the month. Additionally, in December 2024, during the yuletide period, the refinery reduced the price of PMS by N70.50, from N970 to N899.50 per litre, as part of its commitment to easing the cost of living and providing relief to Nigerians during the holiday season,” the statement reads.

The refinery highlighted that previous reductions had positively impacted the overall cost of living, benefitting various sectors of the economy.

They also helped ensure that Nigerians did not experience the typical fuel scarcity and price hikes associated with the yuletide season.

Dangote reiterated that its high-quality products, which had become a favourite in both domestic and international markets, would remain available nationwide, particularly through its key partners—MRS Holdings, AP (Ardova Petroleum), and Heyden—at market-friendly rates.

“Nigerians will be able to purchase high-quality Dangote petrol at the following prices across our partners’ retail outlets: For MRS Holdings stations, it will be sold for N860 per litre in Lagos, N870 per litre in the South-West, N880 per litre in the North, and N890 per litre in the South-South and South-East regions, respectively.

“The same product will also be available at the following prices in AP (Ardova Petroleum) and Heyden stations: N865 per litre in Lagos, N875 per litre in the South-West, N885 per litre in the North, and N895 per litre in the South-South and South-East,” it added.

Dangote Petroleum Refinery assured the public of a consistent supply of petroleum products, with sufficient reserves to meet domestic demand and a surplus for export, thereby boosting the country’s foreign exchange earnings.

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The refinery called on marketers to support the initiative, ensuring that Nigerians remained the primary beneficiaries of this effort.

“This collective action will contribute to the broader economic recovery plan led by His Excellency, President Bola Ahmed Tinubu, who is committed to making Nigeria self-sufficient in refined petroleum products and positioning the country as a leading oil export hub,” it concluded.

Dangote Petroleum Refinery, which has exported its products to Europe, America, Asia, and other regions, recently supplied jet fuel to Saudi Arabia.

The refinery has confirmed it holds over 500 million litres of petrol in storage, enough to meet Nigeria’s petrol demand for several days.

Additionally, the refining capacity of the 650,000 barrel per day refinery has surpassed Nigeria’s average daily requirement of 385,000 barrels.

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This follows an announcement by the President of Dangote Industries Limited, Aliko Dangote, that the Dangote Petroleum Refinery has partnered with MRS Oil and Gas to offer petrol at N935 per litre at retail outlets, following a reduction in the ex-depot price from N970 to N899.50 per litre.

In response, MRS Oil Nigeria Plc has instructed all its outlets to implement the new price immediately, setting up a digital platform and monitoring team to ensure full compliance.

The company has also called on Nigerians to report any outlets that fail to adhere to the new price structure.

“Petrol is now being sold at N935 at MRS Filling Stations nationwide. If you find any station not following this price, please report it. Call 08009447853 or email: NG-FMKPMGWHISTLEBLOWING@NG.KPMG.COM,” the company stated in a press statement.

Emphasising the eco-friendly nature of its products, MRS Oil added, “We call on all petrol station owners to join MRS Oil Nigeria Plc in improving the supply chain of our beloved country, ensuring product quality and availability in every corner of Nigeria for the benefit of all Nigerians.”

Checks confirmed that the new price had been implemented at all MRS Oil and Gas retail outlets nationwide.

In Lagos, commuters were seen queuing at MRS filling stations to purchase petrol.

READ ALSO: FG declares public holidays for Christmas, New Year

Many expressed their gratitude to Dangote Petroleum Refinery and MRS Oil and Gas, urging other marketers to support the indigenous refinery rather than import off-spec products into the country.

Mrs. Ibukun Phillips, a commuter at the MRS station at Alapere on the Lagos Ibadan Expressway, could not hide her joy as her husband filled up their car.

“I am very happy today. This is a victory for Nigeria,” she said.

“The price reduction is the best gift of the season. But beyond just the reduction, we are buying standard, eco-friendly petrol at a lower rate. My husband and I have decided we will only be using MRS from now on because we are confident in the quality of the product and supporting the economy.”

Commercial bus driver Adio Ajibade described the price reduction as a great relief, especially during the festive season.

“The reduction is a great relief. It will reduce transportation costs and benefit Nigerians. God will continue to bless Alhaji Aliko Dangote,” he said.

A public affairs analyst and university lecturer, Dr. Tunde Akanni, said the collaboration between Dangote Petroleum Refinery and MRS Oil represented a significant step towards improving the affordability, quality, and sustainability of petroleum products in Nigeria.

According to Dr. Akanni, “this move will not only help ease the financial burden on Nigerians but also promote a more environmentally conscious approach to fuel consumption, benefitting both the economy and public health in the long term.”

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Titled: ‘Controversy over Age, Cost of Presidential Jet’, it detailed how a fairly used aircraft was packaged and sold as new to Nigeria after huge sums of money in foreign currency was paid for it. Durojaiye, then Aviation Correspondent with Daily Independent, published the story on June 12, 2006, exactly 17 years today.

Another journalist, Gbenga Aruleba, of African Independent Television (AIT), escalated the matter when he chose the acquisition of the tokunbo aircraft as a topic for discussion on his programme.

Sirika has brought shame to the country and he should be made to account for the fraud that he made of the Nigeria Air project.

A livid President Obasanjo ordered the arrest and prosecution of both Durojaiye and Aruleba. The duo was arrested by the goons of the then-president and detained for a week before they were eventually charged to court. But the then Federal Government had to quickly beat a retreat when it discovered that it had no strong case against the reporters.

The same sordid scenario is about to repeat itself in the aviation industry, as the former Minister of Aviation, Hadi Sirika, has allegedly perpetrated another scam in the industry, and this time, taking the entirety of Nigerians for a ride. Riding on the desire of former President Muhammadu Buhari to establish a national carrier for the country, Sirika, either due to ignorance, greed, or no proper knowledge of the industry, went about it in the most shambolic manner.  Although a trained pilot, it beggars belief that Sirika thought that he could pull the wool over the eyes of Nigerians in the manner he went about the national carrier project.

Establishing a national carrier is not rocket science that should be difficult to accomplish for a nation like Nigeria. Buhari, on assumption of office in 2015, listed the establishment of a national carrier that would replace the defunct Nigeria Airways as one of his top priorities, having been around long enough to witness the glorious era of the defunct Nigeria Airways as a military Head of State between 1983 and 1984.

Indeed, Nigeria Airways was a pride to many Nigerians at its glorious height. Established in 1958 after the dissolution of the West African Airways Corporation (WAAC), it retained the name, WAAC Nigeria, until 1971, when it was rebranded Nigeria Airways. Nigeria owned 51 per cent of shares in the company up till 1961 when it boosted its participation to 100 per cent and made it the national carrier.

It had more than 35 aircrafts in its fleet as of 1979 but by 1999 when President Olusegun Obasanjo returned as a civilian president, only one aircraft was in operation. Within 20 years, Nigeria had ‘happened’ to the airline as it has been plagued by mismanagement, corruption, and overstaffing. It had a debt of $528 million hanging on record as of 2003, when Obasanjo angrily liquidated the airline.

But the size of the country and the economic benefits to derive from such a venture make the establishment of a national carrier a priority for Buhari’s administration. A National Carrier offers huge potential for the economic growth of Nigeria as there are numerous bilateral and multilateral agreements the country has with several countries of the world which are not being utilized. Nigeria is a huge market that could serve as the hub of commercial flight operations in the West African sub-region.

READ ALSO: Buhari’s eight-year rule: A postscript (3), By Kazeem Akintunde

His government, in 2015, set up a committee headed by the current Rector of Nigeria College of Aviation Technology (NCAT), Zaria, Mohammed Abdulsalam, to work out the modalities for the establishment of a national carrier for the nation. The committee did a good job and submitted its report to the federal government. It was time for the nation to carry out the task and the responsibility for the implementation of the report fell on Sirika, as head of the supervising Ministry. But the man had other plans on his mind that were apparently not too altruistic.

Trouble started in 2018 when Sirika unveiled Nigeria Air at Farnborough International Air Show in London. The unveiling was after the transaction advisers completed the Outline Business Case (OBC) Report, and the Infrastructure Concession Regulatory Commission review and issued OBC Certificate of Compliance. Many Nigerians in the aviation sector were shocked by the Minister’s action.

Soon, Sirika made public the structure of the proposed airline. A share structure of 49 per cent equity was allocated to Ethiopian Airlines, the only foreign partner that indicated interest in partnering with the country for the establishment of a national carrier.  Five per cent was allocated to the Federal Government while the remaining 46 per cent was said to have been owned by Nigerian investors. The names of those private investors were shrouded in secrecy until local airline operators went to court to challenge the action. Again, the amount of money and number of aircraft Ethiopian Airlines would inject into the venture was not made public, which left many Nigerians wondering why a whopping 49 per cent share structure was allocated to the airline.

The lack of transparency in the whole process has ensured that the dream of a national carrier remains just that –  a mere dream – as nothing much was achieved despite the yearly allocation to the project in the budget by the Aviation Ministry.  From 2019 to 2021, the airline has racked up appropriation votes of N14.65 billion, yet the Federal Government was meant to own only five per cent equity. The former Minister also recently said that only N400 million had been approved thus far. Yet, in the 2023 budget, the government is proposing N1.3 billion, with N700 million as “working capital” and N200 million as consultancy fees for the project.

The Ministry, after much pressure from local airline operators and other stakeholders, announced the trio of SAHCO, MRS, and the Nigerian Sovereign Investment Authority (NSIA) as custodians of 46 per cent private sector equities. But barely 24 hours later, the ministry issued a rejoinder that NSIA was included in error.

There is nothing wrong with Ethiopian airline partnering with Nigeria to establish a national carrier for the country, although I’m guessing  stakeholders in the industry would have been more comfortable having a foreign airline from a non-African partnering with Nigeria to prevent undue rivalry with the national carrier for control of the industry in Africa.

Ethiopian Airlines is indeed the most successful African carrier and an advocate of African airlines competing with other foreign carriers to wrest the African market share, currently skewed in favour of European, American, and Gulf carriers by 80 per cent. Pursuant to its Vision 2035 to connect the nooks and crannies of the African airspace, the airline, 100 per cent owned by the Ethiopian government, already has major stakes and ownership in eight African countries. The airline recently listed Nigeria Air as its ninth “subsidiary”.

Local airline operators in the country are not comfortable with the way and manner the Minister went about the whole bidding exercise, as only the airline submitted a bid for Nigeria Air. Now, they have 135 planes. They have also said that they will increase the fleet size to 250 within the next five years and are ready to go into all domestic markets where they have footprints, with Nigeria now inclusive. What they are trying to do has been called ‘aviation colonialism’ of Africa as the airline will be in a position to operate local flights in Nigeria and charge low fares which local airlines believe will drive them out of the market.

Going by the partnership design now made public, Ethiopian Airlines is expected to deploy just three Boeing 737-800 aircrafts on domestic routes with Ethiopian crew onboard, and allegedly with no financial contribution. However, many Nigerians were shocked when, on his last day in office, a plane flew into Abuja branded in the colour of Nigeria Air and was displayed at a big show as the launch of Nigeria Air.

A few hours after the show, the branded ‘Nigeria Air’ left the country, and was immediately stripped of its Nigerian colour and name. It was at this point that many Nigerians became convinced that the country might have been duped.

The House of Representatives quickly directed its Committee on Aviation to look into the matter. The committee, last week, submitted a report to the larger House and indeed confirmed that what Sirika packaged for the Nation was a complete fraud, prompting for the suspension of the establishment of Nigeria Air as well as the prosecution of those involved in the unveiling of the national carrier.

If the impunity committed by Sirika is allowed to be swept under the carpet, we may just as well forget about Nigeria as we would definitely have become a Banana Republic where anything goes.

The House of Representatives has also urged President Bola Tinubu to constitute a high-level Presidential Committee to undertake a holistic review of the processes of the Nigeria Air project and advice the government on the way forward. The lawmakers also advised the Federal Ministry of Aviation with its Agency, the NCAA to designate some Nigerian Indigenous Airlines as Flag Carriers to take advantage of the Bi-Lateral Air Service Agreement (BASA), entered into by Nigeria, pending when a viable National Carrier comes on board. The lawmakers also stated that the $250,000,000 required to fully start a national carrier in the country could be raised by the government and its citizens without necessarily subjecting the nation to ridicule as done by Sirika.

Nigeria is gradually becoming a huge joke among the comity of serious nations and it’s high time we arrested the development. Sirika has brought shame to the country and he should be made to account for the fraud that he made of the Nigeria Air project. If the impunity committed by Sirika is allowed to be swept under the carpet, we may just as well forget about Nigeria as we would definitely have become a Banana Republic where anything goes.

See you next week

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Akinbile-Yussuf said in a statement on Saturday that the suspension was necessary just as Europe, the epi-centre of the COVID-19 pandemic, reintroduced restrictions to tackle the fourth wave of the pandemic.

She said that the Lagos State government has considered it imperative to follow the latest proactive advice from health authorities to suspend all activities earlier announced for the Greater Lagos Fiesta 2021.

According to her, the suspension followed sound advisory from health authorities in respect of the mammoth crowd expected at some of the gatherings.

“This is as well as the dangers associated with attendance by members of the Diaspora community, who may be returning from Europe and other parts of the world now experiencing the fourth wave.

“We have seen Germany, Austria, and Greece reintroduce restrictions to curtail the spread of the pandemic. Germany is particularly a country in Europe with many Nigerians, who typically return home for the Christmas holidays.

“This is what science enables us to predict to forestall the tragic experience of last December, when scores of our citizens died during the pandemic around yuletide.

“Our emotions favour going ahead with the plans but we must, as a responsible government, submit our will to the predictive intelligence and overriding power of science.”

“The strategic intent of the state government in wanting to hold the fiesta was to accelerate the process of reflating the economy of Lagos State, by putting money in the hands of our people through the deluge of commercial activities planned to take place during the fiesta.

“But the imperatives of protecting the lives of our people clearly override all economic and commercial considerations,” she said.

The commissioner expressed her profound appreciation to all the corporate sponsors who had so far indicated interest to support this year’s edition of the fiesta.

“We will not forget your rare demonstration of goodwill towards the administration of Governor Babajide Olusola Sanwo-Olu, and, indeed, the people of Lagos State at a challenging time when businesses are battling with limited resources.

“You will remain our partners for this and similar initiatives that are in the works,” she said.

Akinbile-Yussuf, therefore, urged event organisers and owners of event centres with plans to host events in December to seek the guidance of the Lagos State Safety Commission, as well as the Ministry of Health.

She urged them to enforce strict adherence to all COVID-19 health safety protocols.

Source: NAN

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