- Aliko Dangote announced a partnership with MRS to sell petrol at N935 per litre nationwide, starting from Monday, December 25, 2024
- The price reduction follows a previous decrease from N970 to N899.50 at the refinery, aimed at easing financial burdens on Nigerians
Aliko Dangote, owner of Dangote Refinery, has partnered with MRS to provide petrol at N935 per litre through its retail outlets nationwide.
The move aims to ease the financial burden on Nigerians, with sales already underway in Lagos and set to expand nationwide starting Monday.
In a statement on Saturday, Dangote praised President Bola Ahmed Tinubu’s naira-for-crude swap initiative, highlighting its positive impact on the economy.
According to Dangote, this policy has significantly lowered the prices of petroleum products.
“To support Nigerians, we recently reduced the price of Premium Motor Spirit (PMS) from N970 to N899.50 at our Refinery loading gantry, offering favourable credit terms to marketers,” he stated.
To ensure these price reductions benefit consumers, the partnership with MRS will make petrol available at a fixed price of N935 per litre across its outlets.
Dangote called on other oil marketers, including NNPC Retail, to collaborate with his refinery to provide Nigerians with affordable, high-quality petrol.
“Our goal is for every Nigerian to access affordable, top-quality petroleum products that are vehicle-friendly, health-conscious, and budget-friendly,” he added.
The naira-for-crude swap policy, approved by the Federal Executive Council in September and implemented in October, allows local refineries to purchase crude oil and sell refined products in naira.
Dangote noted that this move has eased pressure on the dollar and stabilized the naira.
He thanked Nigerians for their continuous support and commended the government for fostering a conducive environment for the domestic refining industry.
“The Dangote Refinery is dedicated to serving Nigeria and Nigerians. We will keep collaborating with stakeholders to deliver cost-effective petroleum products,” Dangote concluded.