Dangote Assures Nigerians of Stable Petrol Prices Despite Rising Crude Oil Costs

— Company says local refining, Naira-for-Crude policy key to maintaining lower PMS prices

 In a firm reassurance to Nigerian consumers, Dangote Petroleum Refinery & Petrochemicals has pledged to maintain price stability for Premium Motor Spirit (PMS), popularly known as petrol, despite recent surges in global crude oil prices.

In a statement signed by the Group Chief Branding and Communications Officer, Anthony Chiejina, the company said it has consistently reduced the price of PMS in recent weeks, citing its commitment to easing the economic burden on Nigerians.

“The decision to keep petrol prices stable—even amid global market volatility—reflects our dedication to supporting the Nigerian economy and protecting consumers from the impact of rising fuel costs,” the statement read.

Dangote noted that its strategy aligns with the Federal Government’s Nigeria First policy, which encourages the use of locally-produced goods and services. According to the company, domestic refining at its facility—touted as the world’s largest single-train refinery—is helping to boost national energy security and conserve foreign exchange.

The refinery also praised President Bola Tinubu’s economic agenda, describing the administration’s Naira-for-Crude Initiative as a catalyst for its ability to offer reduced prices.

“We are immensely grateful to President Tinubu for making this possible. This initiative has enabled us to lower the cost of petroleum products to benefit all Nigerians,” the statement added.

The company further reiterated its commitment to affordability, quality, and operational excellence, assuring stakeholders—including consumers, government, and industry partners—of continued service in the national interest.

“Dangote Petroleum Refinery remains focused on ensuring that the benefits of local refining are fully passed on to the Nigerian people. We will continue to prioritise affordability, quality, and national development in everything we do,” the company stated.

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