The Dangote Petroleum Refinery announced on Sunday a price reduction for Premium Motor Spirit (PMS), commonly known as petrol, to ₦970 per litre for oil marketers.

In a statement, Anthony Chiejina, the company’s Chief Branding and Communications Officer, revealed this development, describing it as a gesture of appreciation to Nigerians for their steadfast support in bringing the refinery project to fruition.

The new price reflects a decrease from the earlier ex-depot rate of ₦990 per litre, which was set earlier this month.

“In addition, this is to thank the government for their support as this will complement the measures put in place to encourage domestic enterprise for our collective well-being,” the statement partly read.

“While the refinery would not compromise on the quality of its petroleum products, we assure you of best quality products that are environmentally friendly and sustainable.

“We are determined to keep ramping up production to meet and surpass our domestic fuel consumption; thus, dispelling any fear of a shortfall in supply.”

The slash would help marketers save about ₦20 on each litre of petrol bought from the Lekki-based plant.