Dangote slashes price of petrol to N825 per litre

The Dangote Refinery for the second time has reduced the price of petrol to N825 per litre, the new price will take effect from Thursday February 27.
According to a statement by the Dangote Refinery, the ex-depot price has now dropped from N950 per litre in January to N825 per litre, marking a total reduction of N125 per litre within 26 days.
“This recent price reduction will ensure that Nigerians pay between N860 and N865 per litre for petrol at the pump in Lagos,” the company stated.
“This strategic price adjustment is intended to ease the financial burden on Nigerians, particularly in anticipation of the Ramadan season, while also supporting President Bola Ahmed Tinubu’s economic recovery initiatives,” the statement read.
The refinery confirmed it currently holds over 500 million litres of petrol in storage, enough to meet Nigeria’s fuel demand for several days. Furthermore, its refining capacity of 650,000 barrels per day exceeds Nigeria’s average daily petrol consumption of 385,000 barrels.