To mitigate the financial strain on Nigerian consumers, Dangote Industries recently reduced the Premium Motor Spirit (PMS) price at its refinery loading gantry from N970 to N899.50 per liter and implemented favorable credit terms for marketers.
A strategic partnership with MRS ensures nationwide distribution at N935 per liter via their retail outlets, commencing in Lagos and expanding nationally on Monday.
In his address, he encouraged fellow oil marketers, including NNPC Retail, to partner in ensuring Nigerians access high-quality petrol at competitive prices.
He stressed that the Dangote Refinery is strategically designed to serve the best interests of Nigeria and its citizens, and that ongoing collaboration with all stakeholders will guarantee the delivery of premium petrol at reduced costs.
The overarching objective is to ensure nationwide access to superior petroleum products that positively impact vehicle performance, public health, and consumer finances.
It is noteworthy that in September, the Federal Executive Council (FEC), under the leadership of the President, approved the sale of crude to local refineries in naira, along with the corresponding purchase of petroleum products in naira. This initiative, which began on October 1, has alleviated pressure on the dollar and contributed to the stabilization of the local currency.
Dangote expressed gratitude to Nigerians for their steadfast support and acknowledged the government for fostering a conducive environment for the domestic refining sector.