The Dangote Refinery has increased the price of Premium Motor Spirit (PMS) for bulk buyers from N899 to N955 per litre.
The refinery made this known in a notice issued “Kindly be advised that effective from 5:30 PM today, an upward adjustment has been implemented on the gantry price of Premium Motor Spirit. on Friday, January 17, 2025.
The company’s statement stated that marketers buying between 2 million – 4.99 million litres will now buy at N955 per litre while 5 million litres & above will buy at N950 per litre.
The amount marks an increase of N55.5 or 6.17 per cent from N899.50 per litre announced as a holiday discount for Nigerians last year December.
This adjustment applies to all stock balances yet to be lifted by the stated time while pending stock as of the effective time will also be repriced at the updated rates.
The statement added that the new price regime will take effect from 5:30 PM, today.
The notice titled, “Communication on PMS Price Review” read, “Dear Esteemed Customer, Trust this email finds you well.
“Kindly be advised that effective from 5:30 PM today, an upward adjustment has been implemented on the gantry price of Premium Motor Spirit.”
The price increase is expected to have widespread effects on the downstream petroleum sector, particularly private depots and retail markets.
