Dangote Refinery has announced a strategic partnership with MRS to distribute Premium Motor Spirit (PMS) at a reduced price of ₦935 per litre through MRS retail stations nationwide.
Recent Price Adjustments
This initiative follows a price cut from ₦970 to ₦899.50 per litre at the refinery’s loading gantry, which was aimed at easing the financial burden on consumers during tough economic times.
Government’s Role in Price Reduction
Aliko Dangote, President of Dangote Industries Limited, praised President Bola Tinubu for the ‘naira for crude’ swap deal, which has significantly impacted the reduction of petroleum product prices. This policy has not only alleviated strain on foreign currency but also stabilized the naira.
Partnership Details:
- Implementation: The new pricing has already started in Lagos and will expand nationwide starting Monday.
- Consumer Reach: The partnership with MRS is specifically designed to ensure that the price benefits reach the end consumer directly.
Call for Collaboration
Dangote urged other petroleum marketers, including NNPC Retail, to join in this effort to provide Nigerians with affordable, high-quality fuel. He emphasized the refinery’s commitment to national welfare:
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“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.”
Economic Impact
The Federal Executive Council’s approval in September to sell crude in naira to local refineries and buy petroleum products in naira has been a pivotal move towards economic stability, reducing the demand for dollars and strengthening the local currency.
