As the holiday season approaches, Africas richest man, Aliko Dangote , has lowered petrol prices at his massive refinery, giving some relief to motorists facing high fuel costs. From Friday, the refinery began selling Premium Motor Spirit petrol at N828 0.57 per liter, down from N877 0.61, a reduction of N49 0.034, or about 5.6 percent.
The cut marks Dangote Refinerys second major price review in three months as it adjusts to shifts in global oil prices and local supply costs. In December 2024 the refinery had set its ex-depot rate at N899 0.62 per liter prompting the Nigerian National Petroleum Company NNPC Limited to match the move. Prices, however, rose again to N950 0.66 in January 2025 before easing in recent weeks.
Dangote Refinery boosts jobs and savings