Dangote Refinery has announced a partnership with MRS to sell Premium Motor Spirit (PMS) at ₦935 per litre across its retail outlets nationwide, starting Monday.
The decision follows a recent price reduction by the Nigerian National Petroleum Company Limited (NNPC), which slashed PMS prices below ₦1,000 per litre.
In a statement on Saturday, President of Dangote Industries Limited, Aliko Dangote, credited the naira-for-crude swap deal, introduced by President Bola Tinubu’s administration, for the reduction in petroleum prices and its positive impact on the economy.
To provide relief to consumers, Dangote Refinery recently reduced the price of petrol from ₦970 to ₦899.50 at its loading gantry and extended credit terms to marketers.
The partnership with MRS aims to ensure this reduction reaches end users.
Dangote urged other marketers, including NNPC Retail, to collaborate in delivering high-quality petroleum products at affordable rates to Nigerians.
The naira-for-crude initiative, approved by the Federal Executive Council in September, commenced on October 1.
The policy has helped stabilise the local currency by reducing demand for foreign exchange.