Dangote Petroleum Refinery and Petrochemicals has expressed a commitment to keeping petrol prices stable in Nigeria, despite fluctuations in global crude oil prices.

Anthony Chiejine, the company’s Group Chief Branding and Communications Officer, disclosed this in a statement issued in Lagos on Monday, April 9.

According to the statement, Dangote has consistently reduced the pump price of Premium Motor Spirit (PMS) and will continue to support the Nigerian economy by easing the financial burden on consumers.

The company said its pricing strategy aligns with the government’s “Nigeria First” policy and President Bola Tinubu’s economic reform agenda, known as the Renewed Hope Initiative, which prioritises local production and national development, Punch reports.

Part of the statement reads:

“Our decision reflects our commitment to delivering affordable, high-quality petroleum products without compromising efficiency or sustainability."

“Refining petroleum products locally at the world’s largest single-train refinery allows us to significantly contribute to Nigeria’s energy security, conserve foreign exchange, and bolster economic resilience."

Dangote credited the federal government’s Naira-for-Crude Initiative for helping to bring down fuel prices, and reaffirmed the refinery’s focus on operational excellence and national service.

The statement added:

“Affordability, quality, and national interest will always guide our operations."

Recently, President of the Dangote Group, Aliko Dangote, visited President Bola Tinubu in Abuja lauding him for what he described as his recent ‘revolutionary changes’ in the oil and gas sector, geared towards saving the country.

Africa’s richest man also praised Tinubu for assembling a ‘capable’ leadership team at the Nigerian National Petroleum Company Limited (NNPC).

Dangote petrol prices

Recently, the refinery announced a price slash for its products, as well as revised retail prices for petrol at all its partner filling stations.

A breakdown of prices by location for all six partners is as follows:

-Lagos: N890 per litre

-South-West: N900 per litre

-North-West and North-Central: N910 per litre

-South-East, South-South and North-East: N920 per litre

A statement recently shared announcing the price reduction reads:

"Dangote Petroleum Refinery has consistently worked to reduce the prices of petrol and other refined petroleum products, ensuring the continued benefit of Nigerian consumers.

"Furthermore, Dangote Petroleum Refinery calls on industry stakeholders, including marketers and distributors, to continue sourcing their products from the refinery, ensuring that the benefits of these price reductions are fully realized across the country.."