By Udeme Akpan

Despite the fluctuations in global crude oil prices, Dangote Petroleum Refinery & Petrochemicals, said it has consistently reduced the price of Premium Motor Spirit (PMS), commonly known as petrol.

The company, in a release, signed by its Group Chief Branding and Communications Officer, Anthony Chiejina, said the decision to maintain price stability reflects its unwavering commitment to supporting the Nigerian economy and alleviating the burden on consumers from the increase in fuel prices by maintaining price stability.

 The decision, Dangote said, underscores its dedication to providing affordable, reliable, and high-quality petroleum products without compromising operational efficiency and sustainability.

 The company stated: “Our approach aligns with the objectives of the Federal Government’s Nigeria First policy, which promotes the prioritisation of locally-produced goods and services.

“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.

“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.”

 The company assures all stakeholders—consumers, partners, and the government—of its continuous dedication to operational excellence and national service.

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

Dangote Petroleum Refinery has taken delivery of 146,000 metric tonnes of crude oil from the international market, with the vessel, Hercules, still discharging the cargo.

According to checks by Vanguard, another vessel, Sienna, is scheduled to arrive with 125,000 metric tonnes of crude oil for refining.

In a related development, three vessels – Microft, STI Mighty, and PS New Orleans – have arrived to load 10,000 metric tonnes, 44,000 metric tonnes, and 44,000 metric tonnes of jet fuel from the 650,000 barrels per day refinery for the global market.