The Dangote Refinery has announced a partnership with MRS to sell Premium Motor Spirit (petrol) at ₦935 per litre nationwide through its retail outlets.
This follows a recent move by the Nigerian National Petroleum Company Limited to reduce petrol prices to below ₦1,000 per litre.
In a statement shared on his X account on Saturday, the President of Dangote Industries Limited, Aliko Dangote, praised President Bola Tinubu for the positive impact of the naira-for-crude swap deal on the Nigerian economy, which has contributed to the reduction in petroleum product prices across the country.
“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.
“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 added.
“This price has already commenced in Lagos, and it will be offered nationwide from Monday.
In the statement, Dangote called on other oil marketers such as the NNPC Retail and all other marketers, “to work with us to ensure that Nigerians enjoy high-quality petrol at discounted prices.”
According to him, “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.
“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.”
In September, the Federal Executive Council (FEC), led by President Bola Tinubu, approved a policy allowing crude oil to be sold to local refineries in naira, with the corresponding purchase of petroleum products also conducted in naira.
This policy, which took effect on October 1, has helped ease pressure on the dollar and contributed to stabilizing the local currency.