Dangote, MRS agree to sell petrol at N935/litre nationwide

Dangote, MRS agree to sell petrol at N935/litre nationwide

Dangote Refinery has announced a partnership with MRS to make Premium Motor Spirit (PMS), commonly known as petrol, available at ₦935 per litre nationwide through MRS retail outlets.

This development follows the Nigerian National Petroleum Company Limited’s (NNPC) recent move to lower petrol prices below ₦1,000 per litre.

In a statement shared on Saturday via X, the President of Dangote Industries Limited, Aliko Dangote, praised President Bola Tinubu for the positive impact of the naira-for-crude swap initiative on the Nigerian economy. He noted that the policy had contributed to a reduction in the cost of petroleum products.

“To provide succour to Nigerians, Dangote recently reduced the price of Premium Motor Spirit (PMS) from N970 to N899.50 at its Refinery loading gantry and provided generous credit terms to marketers.

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“To ensure that this price reduction gets to the end consumer, we have signed a partnership with MRS to sell petrol from its retail outlets nationwide at N935 per litre,” the statement read.

Dangote further revealed that the new pricing had already been implemented in Lagos and would be extended nationwide starting Monday.

He urged other oil marketers, including NNPC Retail, to collaborate to ensure Nigerians benefit from affordable and high-quality petrol.

“The Dangote Refinery is for the benefit of Nigeria and Nigerians. We will therefore continue to work with various value chain players to deliver high-quality petrol at cheaper prices,” Dangote stated.

“Our aim is for all Nigerians to have ready access to high-quality petroleum products that are good for their vehicles, good for their health, and good for their pockets.”

The naira-for-crude initiative was approved by the Federal Executive Council (FEC) in September under President Tinubu’s administration. The policy, which came into effect on October 1, has eased demand for the dollar and helped stabilize the naira, contributing to the reduction in fuel prices.

 

Dangote, MRS agree to sell petrol at N935/litre nationwide