Business
Dangote Refinery Reduces PMS Price From N990 to N970 as a Year-End Thanks to Nigerians
In a move aimed at easing fuel costs for Nigerians, Dangote Petroleum Refinery has announced a reduction in the price of Premium Motor Spirit (PMS) from N990 per litre to N970.
This change is due to the year drawing to a close, reflecting the refinery’s gratitude to Nigerians for their continuous support and the government’s efforts in fostering local enterprise.
The statement released by the refinery emphasizes the company’s commitment to quality and sustainability.
“This is our way of appreciating the good people of Nigeria for their unwavering support in making the refinery a reality,” it reads.
The company also showed its appreciation for the government’s backing, noting that the reduction aligns with measures to bolster domestic enterprise for national growth and well-being.
The Dangote Refinery, a groundbreaking project in Africa’s oil and gas industry, has positioned itself as a key player in Nigeria’s energy sector.
Launched to address the nation’s dependence on imported petroleum products, the facility is the largest single-train refinery in the world, capable of refining 650,000 barrels of crude oil daily.
This capacity is expected to significantly impact Nigeria’s fuel supply, reducing import dependency and ensuring stable availability.
The refinery reassured Nigerians of its determination to ramp up production to not only meet but surpass the country’s fuel consumption demands.
“We assure you of best quality products that are environmentally friendly and sustainable,” the statement added.
The Federal Government trains 500 women and youths in food production and agriculture. The programme was started to support food security.
The Federal Ministry of Agriculture and Food Security partnered with the National Horticultural Research Institute (NIHORT).
The women and youths were taught tomato, okra and Telfairia production techniques. The government believes this will help boost agriculture, improve food production and strengthen the economy in Ogun State.
According to reports, fuel stations are reducing their prices a bit. This has become a general thing around Nigeria after the spike due to the removal of subsidy.
The prices are dropping to ₦1,275 and ₦1,299, going lower than ₦1,300 compared to what it was before.
MTN has moved closer to acquiring IHS Holding, following shareholder approval of the proposed takeover, marking another major milestone in the transaction.
The approval was secured during the Extraordinary General Meeting (EGM) held on 4 August, allowing the deal to progress to the next stage.
If completed, the acquisition is expected to strengthen MTN’s infrastructure capabilities by giving the company greater control over its telecommunications tower assets. Industry analysts believe the move could improve network efficiency, reduce long-term operating costs, and support MTN’s continued expansion across its markets.
The transaction is still subject to regulatory approvals and other closing conditions before it can be officially completed.
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