By Ameenat Hamzat, Lagos zoom
Dangote Refinery has slashed the ex-depot price of Premium Motor Spirit (PMS) from N880 to N840 per litre, effective June 30, as more independent marketers join its distribution network.
The price cut, confirmed by Group spokesperson Anthony Chiejina, follows recent volatility in global crude markets and aims to ease pressure on Nigerian consumers.
Major fuel distributors such as MRS, Heyden, Ardova (AP), Hyde, Optima, and Techno Oil are expected to adjust their retail prices to reflect the new rate.
The refinery also announced taht new partners including TotalEnergies, Sunbeth Energies, Sobaz Nigeria Ltd., Virgin Forest Energy, Sixxco Oil, and others, have signed on to distribute Dangote’s products nationwide.
The refinery, the world’s largest single-train facility , js also investing N720 billion in the rollout of 4,000 Compressed Natural Gas (CNG)-powered trucks to deliver products across the country.
The initiative is projected to save over N1.7 trillion annually in fuel transportation costs and ease inflationary pressure.
From August 15, the refinery will begin direct fuel delivery to filling stations, industrial users, and other bulk consumers.
Dangote says the move will support over 42 million MSMEs by lowering energy costs and improving profitability.
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