EXCITING News For Nigerians As Dangote Drops Announcement Over Petrol Price Reduction; See EXPLOSIVE Details
The Dangote Petroleum Refinery, in collaboration with Heyden Petroleum and Ardova Plc, has announced a strategic partnership to ensure Nigerians have access to affordable Premium Motor Spirit (PMS), commonly known as petrol. This partnership was made possible through President Bola Tinubu’ s crude- for- naira swap initiative, which provided financial relief to encourage such collaborations.
The three companies signed a bulk purchase arrangement with the Dangote Refinery, the world’ s largest single- train refinery. According to a statement from Dangote Refinery, this move is aimed at stabilizing the nation’ s fuel market by ensuring a steady supply of petroleum products at reduced costs. This development follows a precedent set by MRS Oil Nigeria Plc, which recently entered into a similar agreement with Dangote Refinery and slashed its fuel prices to N935 per litre across its stations nationwide.
Through the bulk purchase deal, Ardova Plc and Heyden Petroleum are expected to secure a reliable supply of fuel from the refinery. This will enable them to offer competitive prices at their over 1, 000 retail outlets across Nigeria, alleviating the recurring issue of fuel scarcity and price discrepancies between states.
Ardova Plc highlighted that the new agreement formalizes its long- standing partnership with the Dangote Refinery and is expected to create a more competitive environment in Nigeria’ s downstream oil and gas industry. The partnership is projected to result in long- term benefits for both companies and consumers, fostering a healthier competitive landscape in the sector.
” This framework will institutionalize a more robust relationship between the two companies and contribute significantly to the emerging competitive landscape in the downstream oil and gas industry, ” Ardova Plc stated.
Contributions of Dangote Refinery
Since its commencement in 2024, the Dangote Refinery has been instrumental in addressing Nigeria’ s fuel supply challenges. In December 2024, the refinery reduced its ex- depot petrol price from N970 to N899. 50 per litre, spurring competition in the downstream sector. The refinery also partnered with MRS Oil Nigeria Plc to offer petrol at N935 per litre across MRS stations, earning praise from Nigerians for its commitment to making fuel more affordable.
This collaboration signifies a transformative shift in Nigeria’ s oil and gas market. With increased competition and a focus on stabilizing fuel prices, the partnership is expected to mitigate the impact of global oil price fluctuations and improve energy security for Nigerian consumers.
The Dangote Refinery’ s role in reducing prices and ensuring a steady supply of petrol highlights the potential for public- private partnerships to drive significant improvements in the nation’ s energy sector.
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