The Dangote Petroleum Refinery has reduced the ex-depot (ex-gantry) price of its premium motor spirit (PMS) from ₦880 to ₦865 per litre, In effort to offer some relief to consumers.
The new price reflects a ₦15 drop from Wednesday’s previous rate of ₦880 per litre.
This announcement comes just hours after the Federal Executive Council directed the full implementation of the previously suspended Naira-for-Crude agreement with local refiners. The move is expected to enhance Nigeria’s energy security and reduce reliance on foreign exchange.
An official of the $20 billion refinery confirmed the development on Thursday in a statement to newsmen, stating that marketers and distributors had already been informed of the new price.
The adjustment also comes amidst ongoing concerns over high fuel costs and its impact on inflation and transportation across the country.
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