The Dangote Refinery has partnered with MRS Petrol stations to offer petrol at a reduced price of N935 per litre. This move comes as part of a broader strategy to make fuel more affordable for Nigerians and is notably cheaper than the prices offered by the Nigerian National Petroleum Company Limited (NNPCL), which are currently above N1000 per litre.
The partnership between Dangote Refinery and MRS represents a strategic effort to pass on cost savings directly to consumers. According to a statement released by Dangote Refinery, this collaboration aims to ensure that the price reduction reaches end consumers effectively.
The statement highlighted, "To provide succour to Nigerians, Dangote recently reduced the price of Premium Motor Spirit from N970 to N899.50 at its Refinery loading gantry and provided generous credit terms to marketers. To ensure that this price reduction gets to the end consumer, we have signed a partnership with MRS to sell petrol from its retail outlets nationwide at N935 per litre."
This initiative is part of a larger trend in the Nigerian downstream sector, where intense pricing competition has emerged. The Nigerian National Petroleum Company Limited recently reduced its ex-depot price of Premium Motor Spirit to N899 per litre, a move seen as a response to the competitive impact of deregulation.
The Petroleum Products Retail Outlets Owners Association of Nigeria confirmed this price adjustment, noting that it represents a reduction of N141 or 13.56% from the previous price of N1,040 per litre.
The price reduction by both Dangote Refinery and NNPCL is expected to spark a price war among oil marketers, ultimately benefiting consumers. Abubakar Maigandi, the National President of the Independent Petroleum Marketers Association of Nigeria, expressed optimism about the development, stating, "The two most critical stakeholders in the sector have already reduced the rate, which is a very good development for us. So once we start taking fuel at the reduced rate, we are going to reduce our price too."
The move has been praised by various stakeholders for its potential to stimulate economic growth and improve the standard of living for Nigerians. Billy Harry, the National President of PETROAN, emphasized the benefits of the price reduction, saying, "The reduction in PMS price by NNPCL is a demonstration of the company’s commitment to making petroleum products more affordable for Nigerians. We commend NNPCL for responding to our call for affordable PMS prices."
The partnership between Dangote Refinery and MRS is also seen as a testament to the positive impact of the naira-for-crude swap deal initiated by President Bola Tinubu's administration. Aliko Dangote, President of Dangote Industries Limited, commended the government for creating an enabling environment for domestic fuel production and distribution. He stated, "We thank Nigerians for their unwavering support and the government for creating an enabling environment for the domestic market."
Kommentare