Dangote Reduces Petrol Price by N25 per Litre to Boost Local Refinery Competitiveness

Dangote Petroleum Refinery has announced a significant reduction in its petrol prices, slashing the gantry price of Premium Motor Spirit (PMS) by N25 per litre. The new ex-depot rate is now N774 per litre, down from N799, a move that takes immediate effect nationwide. The refinery communicated the change to marketers last night, signaling a boost for consumers and downstream operators.

The price adjustment comes as part of Dangote Refinery’s strategy to make locally refined fuel more competitive. According to the refinery, imported PMS from Lome currently lands at approximately N793 per litre, making the local product not only cheaper but also more attractive to marketers and end-users across Nigeria. This reduction is expected to ease some pressure on motorists and strengthen the domestic oil sector.

Beyond Nigeria, businessman Aliko Dangote is actively expanding the Dangote Group’s footprint across Africa. During a visit to Burundi, he met with President Evariste Ndavishimye to explore new investment opportunities in sectors such as infrastructure, agriculture, cement production, and energy. Dangote emphasized that the initiative is aimed at fostering mutually beneficial economic partnerships on the continent.

Accompanied by former President Olusegun Obasanjo, Dangote explained that technical teams from both Burundi and the Dangote Group have been established to identify key projects and investment priorities. “Our focus really is investing heavily in the African continent, not anywhere else, so Burundi is part and parcel of that African region,” Dangote said, highlighting the group’s commitment to boosting regional industrial growth.

Observers see the engagement with Burundi as a landmark moment for both parties. The discussions on strategic cooperation in industrialization, logistics, infrastructure, and energy align with Burundi’s goal to attract large-scale private sector investment. Experts note that this positions the country as a credible destination for African mega investors while supporting Dangote’s broader vision for continental economic development.

source: The Nation