Dangote Refinery Commits To Petrol Price Stability Amid Global Oil Price Surge

Dangote Petroleum Refinery & Petrochemicals has announced that it has consistently lowered the price of Premium Motor Spirit (PMS), commonly known as petrol, despite ongoing fluctuations in global crude oil prices.

In a statement signed by the Group Chief Branding and Communications Officer, Anthony Chiejina, the company emphasized that its decision to maintain price stability demonstrates its unwavering commitment to supporting the Nigerian economy and easing the financial pressure on consumers caused by fuel price increases.

The statement reads, “Our approach aligns with the objectives of the federal government’s Nigeria First policy, which promotes the prioritization of locally produced goods and services.”

According to the company, this strategic decision highlights Dangote’s focus on delivering “affordable, reliable, and high-quality petroleum products without compromising operational efficiency and sustainability.”

By refining petroleum products locally at its world-class facility—recognized as the world’s largest single-train refinery—Dangote said it is significantly contributing to the nation’s energy security, reducing dependence on imports, and strengthening Nigeria’s economic resilience.

“By refining petroleum products domestically at the world’s largest single-train refinery, we are proud to make a substantial contribution to Nigeria’s energy security, foreign exchange savings, and overall economic resilience—aligning with President Bola Tinubu’s Renewed Hope Agenda, which is focused on addressing the nation’s economic challenges and improving the well-being of Nigerians.”

The company expressed appreciation to the federal government for supporting its efforts through key policy measures: “We are immensely grateful to His Excellency, President Bola Tinubu, for making this possible through the commendable Naira-for-Crude Initiative, which has enabled us to consistently reduce the price of petroleum products for the benefit of all Nigerians.”

Reaffirming its commitment to stakeholders, Dangote assured consumers, partners, and the government of its continued dedication to operational excellence and national development.

“Dangote Petroleum Refinery remains committed to ensuring that the benefits of our local refining capacity are fully realized and enjoyed by the Nigerian populace. We will continue to prioritize affordability, quality, and national interest in every facet of our work.”

Meanwhile, the refinery has received 146,000 metric tons of crude oil from the international market, with the vessel Hercules currently offloading its cargo. According to Vanguard’s checks, another vessel, Sienna, is expected to arrive soon with an additional 125,000 metric tons of crude oil for refining.

In a related development, three other vessels—Microft, STI Mighty, and PS New Orleans—have docked at the facility to load jet fuel. They are scheduled to export 10,000 metric tons, 44,000 metric tons, and 44,000 metric tons, respectively, to the global market, underscoring the refinery’s growing role in international energy supply.