The ex-depot price of premium motor spirit (PMS), also referred to as petrol, has been lowered by Dangote Petroleum Refinery from N840 per litre to N820. The wholesale price at which storage depots sell fuel to marketers, exclusive of transportation and retail costs, is known as the ex-depot price.
The refinery lowered its ex-depot pricing from N880 to N840 per liter a week prior to the cut. Anthony Chiejina, the spokesperson for Dangote Group, stated in a statement on Tuesday that the new pricing will go into effect right away. The ex-depot price “has been reduced from N840 to N820 per litre effective immediately,” according to Chiejina.
According to the spokesperson, the previous change to N840 per litre was brought about by the volatility of the world crude oil market, particularly during the 12-day Middle Eastern geopolitical crisis that raised crude prices. He stated that the new pricing is anticipated to be reflected in the retail locations of the refinery’s current partners, which include MRS, Heyden, Ardova (AP), Hyde, Optima, and Techno Oil.
Chiejina added that because of the guarantee of a consistent supply, more independent marketers have joined the expanding network of distributors selling the petroleum products from the Dangote refinery across the country.
“Several new marketing companies have joined Dangote’s distribution network. These include TotalEnergies, Garima Petroleum, Sunbeth Energies, Sobaz Nigeria Ltd., Virgin Forest Energy, Sixxco Oil Ltd., N.U. Synergy Ltd., and Soroman Nigeria Ltd,” he stated.
“Others on the growing list are Jezco Oil Nigeria Ltd., Jengre, Cocean, Kifayat, Triumph Golden, Sifem Global, Riquest, and Mamu Oil, among others.”
According to Chiejina, the Dangote refinery is expanding its domestic gasoline distribution network, providing competitive pricing and improving access to refined goods throughout Nigeria.
