Dangote Refinery Slashes Petrol Prices in Nigeria, Credits FG’s Naira-for-Crude Policy
Lagos, May 20, 2025 – Despite rising global crude oil prices, Dangote Petroleum Refinery & Petrochemicals has announced consistent reductions in the pump price of Premium Motor Spirit (PMS), commonly known as petrol, across Nigeria.
In a statement issued by Anthony Chiejina, Group Chief Branding and Communications Officer, the company attributed the price cuts to the Federal Government’s innovative Naira-for-Crude initiative. The policy enables local crude oil supply in exchange for naira payments, reducing the refinery’s reliance on costly foreign exchange.
“Our ability to maintain lower petrol prices aligns with the Federal Government’s Nigeria First policy, which promotes the use of locally-produced goods and services,” the statement said.
Dangote Refinery, which operates the world’s largest single-train refining facility, emphasized its commitment to national economic stability and energy security. It affirmed that local refining is significantly reducing Nigeria’s dependence on imported fuel and bringing much-needed relief to consumers.
The company also thanked President Bola Ahmed Tinubu for implementing the Naira-for-Crude policy, describing it as a game-changer for the oil and gas sector.
“We are immensely grateful to President Bola Tinubu for the Naira-for-Crude Initiative, which has made these consistent price reductions possible for the benefit of all Nigerians,” the company said.
Dangote Petroleum Refinery assured Nigerians and stakeholders of its continued dedication to affordability, quality, and national development. It reiterated its role in supporting the President’s Renewed Hope Agenda and pledged to help drive Nigeria’s economic recovery through sustainable energy practices.
The company’s announcement reinforces its leadership in stabilizing fuel prices, even as global oil markets remain volatile
