Dangote Petroleum Refinery has reduced the ex-depot prices of Premium Motor Spirit (PMS), also known as petrol, and Automotive Gas Oil (AGO), commonly known as diesel.

The company said the move was meant to make petroleum products more affordable and support economic activities.

Under the revised pricing structure announced yesterday, the refinery reduced the ex-depot price of petrol by N50 per litre to N1,165 from N1,215, while diesel was cut by N80 per litre to N1,570 from N1,650.

The price adjustment was disclosed in a statement issued by the Dangote Group, which said the review was part of the refinery’s efforts to enhance energy affordability, improve access to refined petroleum products and support businesses and consumers across the country.

According to the statement, the reduction underscores the refinery’s commitment to supplying affordable and high-quality petroleum products to the domestic market while maintaining stable product availability.

The company said it would continue to leverage operational efficiencies to create value for consumers, businesses and other stakeholders.

It added that the benefits of improved operational efficiency would continue to be passed on to consumers whenever market conditions permit.

The statement reads: “Dangote Petroleum Refinery has announced a reduction in the ex-depot prices of Premium Motor Spirit (PMS) and Automotive Gas Oil (Diesel), reaffirming its commitment to providing affordable, high-quality petroleum products to the Nigerian market.

“The price review reflects Dangote Refinery’s ongoing efforts to enhance energy affordability, improve access to refined petroleum products, and support economic activities across Nigeria.”

The refinery also stated that it remains committed to ensuring a stable supply of refined petroleum products while strengthening Nigeria’s energy security through increased domestic refining capacity.

It noted that the facility continued to play a key role in reducing the country’s dependence on imported petroleum products and supporting national economic development through the supply of refined products.