MRS Oil Reduces Petrol Price to ₦925 per Litre in Lagos Following Dangote Refinery’s Ex-Depot Price Cut
By Okafor Joseph Afam, February 11, 2025
MRS Oil Nigeria Plc has announced a reduction in the pump price of Premium Motor Spirit (PMS), commonly known as petrol, to ₦925 per litre at all its stations across Lagos. This decision follows a recent decrease in the ex-depot price by its partner, Dangote Petroleum Refinery, to ₦890 per litre.
In a statement released on Monday via its official X (formerly Twitter) account, MRS detailed the new regional pricing structure: ₦935 per litre in the South West, ₦945 in the North, and ₦955 in the East. The company emphasized its commitment to providing high-quality fuel, stating, “The prices may vary, but one thing stays the same—we give you high-quality fuel that keeps your engine running at its best.” MRS also encouraged customers to report any stations selling above the listed prices, assuring prompt attention to such concerns.
Dangote Refinery Lowers Ex-Depot Price to ₦890
Effective February 1, 2025, Dangote Petroleum Refinery reduced the ex-depot price of petrol from ₦950 to ₦890. This adjustment aligns with favorable developments in the global energy sector and a notable decline in international crude oil prices.
Anthony Chiejina, the Group’s Chief Branding and Communications Officer, noted that this move follows a previous price increase on January 19 due to rising crude oil costs. With the recent downturn in global market prices, the refinery has adjusted its pricing structure to provide relief to Nigerians.
The statement highlighted that the reduction is expected to lower petrol costs nationwide, creating a positive ripple effect throughout the economy. “Dangote Petroleum Refinery firmly believes that this reduction from ₦950 to ₦890 will result in a meaningful decrease in the cost of petrol nationwide, thereby driving down the prices of goods and services, as well as the overall cost of living, with a positive ripple effect on various sectors of the economy,” the statement read.
The refinery also urged marketers to ensure that the benefits of the reduced price are passed on to consumers. It reiterated its support for the economic revival efforts led by President Bola Tinubu’s administration, which aims to make Nigeria self-sufficient in refined petroleum products and position the country as a leading oil export hub.
