Dangote Commends President Tinubu on Crude for Naira Swap Impact

• Partners MRS to Sell N935 per litre at MRS Retail Stations Nationwide

• Nigerians now enjoying reduced rates and improved supply

Nigerians are set to enjoy better supply and more affordable pms rates as Dangote Refinery has partnered with MRS to sell Premium Motor Spirit (PMS) at N935 per litre.

The new price, reduced from N970 per litre will take effect from Monday 23rd December at all MRS retail outlet.

This reduction and partnership is coming on the heels of an already implemented discount whereby, to provide succour to Nigerians, Dangote recently reduced the price of Premium Motor Spirit (PMS) from N970 to N899.50 at its Refinery loading gantry whilst providing generous credit terms to marketers.

President of Dangote Industries Limited, Aliko Dangote has attributed the current regime of price reductions and supply availability to the crude for naira swap deal.

Dangote further commended President Bola Ahmed Tinubu for the positive impact of the deal on the Nigerian economy, which has led to reduction in prices of petroleum products in the country.

The foremost entrepreneur in a statement made available to the media also noted that the partnership with MRS signals a deliberate intention to ensure that end users benefit from the impact of the deal.

“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” he added. This price has already commenced in Lagos, and it will be offered nationwide from Monday.

In his statement, he called on other oil marketers such as the NNPC Retail and all other marketers, “to work with us to ensure that Nigerians enjoy high-quality petrol at discounted prices.”

According to him, “The Dangote Refinery is for the benefit of Nigeria and Nigerians. We will therefore continue to work with various value chain players to deliver high quality petrol at cheaper prices. Our aim is for all Nigerians to have ready access to high quality petroleum products that are good for their vehicles, good for their health, and good for their pockets.

Recall that in September, the Federal Executive Council (FEC) under the leadership of Mr. President approved the sale of crude to local refineries in Naira and corresponding purchase of petroleum products in Naira. The move, which commenced on October 1, led to reduced pressure on the dollar and ensured the stability of the local currency.

Concluding the statement, Dangote thanked Nigerians for their unwavering support and the government for creating an enabling environment for the domestic refining industry.