Dangote Petroleum Refinery has reduced its gantry price of Premium Motor Spirit (PMS), also known as petrol, by ₦25 per litre, lowering the ex-depot price from ₦799 to ₦774 per litre.
The refinery communicated the price adjustment to marketers, stating that the new rate takes immediate effect nationwide.
“This is to notify you of a change in our PMS gantry price from ₦799 per litre to ₦774 per litre,” the refinery said in a notice to marketers.
The refinery explained that the price reduction is aimed at enhancing the competitiveness of locally refined petroleum products. It noted that the current landing cost of imported PMS from Lomé is about ₦793 per litre, which is higher than Dangote Refinery’s new ex-depot price of ₦774 per litre.
The adjustment is expected to strengthen the position of domestic refining and potentially influence retail fuel prices across the country, depending on marketers’ pricing decisions.
Meanwhile, President of the Dangote Group, Aliko Dangote, is exploring new investment opportunities in Burundi as part of efforts to expand the company’s footprint across Africa.
Dangote visited Burundian President Évariste Ndayishimiye at the Presidential Palace, accompanied by former Nigerian President Olusegun Obasanjo. The visit was described as both diplomatic and economic in nature.
Dangote said the Group is committed to investing across the African continent and identified Burundi as a country with strong potential.
“Our focus really is investing heavily in the African continent. Burundi is part of that vision,” Dangote said after the meeting.
He disclosed that two technical teams—one from Burundi and the other from the Dangote Group—have been established to identify priority sectors and develop viable investment projects.
Key areas of interest include solid minerals, power generation, agriculture, cement production, infrastructure, logistics, and energy. The discussions are part of Burundi’s efforts to attract major private sector investments and accelerate its economic development.
The move aligns with Dangote Group’s broader strategy to expand its industrial and infrastructure investments across Africa.
Post comments (0)