In a bold move to ease Nigeria’s economic strain, Dangote’s ex-depot has reduced the price of Premium Motor Spirit (PMS) to about ₦827 per litre, down from roughly ₦872 just days ago. This adjustment has triggered a swift ripple effect across the downstream fuel market, with several filling stations also lowering their prices.
Reports from Lagos and Abuja indicate that some retail outlets are now selling petrol for around ₦895 per litre, a notable drop from previous rates of ₦910 or higher. For motorists, traders, and transport operators, this reduction offers welcome relief as the ember months draw to a close, a period often marked by increased travel, higher transport costs, and festive spending pressures.
However, industry analysts warn that this price shift may be temporary, given the volatility of global crude oil prices, foreign exchange fluctuations, and ongoing supply chain concerns.
Still, Dangote’s pricing strategy is undeniably reshaping Nigeria’s downstream market, pushing importer-marketers to reconsider the viability of continued importation in light of domestic refining capacity.
For millions of Nigerians facing rising living costs, this development offers a glimpse of hope and economic reprieve, if sustained.
Could this fuel price drop be the turning point that finally makes Nigeria’s domestic refining dream a lasting solution?
#DangoteRefinery #FuelPriceDrop #NigeriaEconomy
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