Dangote Petroleum Refinery has effected a reduction in the price of its Premium Motor Spirit (PMS) for marketers.

Anthony Chiejina, Group Chief Branding and Communications Officer of the Dangote Group, announced this in a statement on Sunday.

He said the price was slashed from N990/litre to N970/litre “to appreciate the good people of Nigeria”.

“As the year comes to an end, this is our way of appreciating the good people of Nigeria for their unwavering support in making the Refinery a dream come true. In addition, this is to thank the government for their support as this will complement the measures put in place to encourage domestic enterprise for our collective well- being.”

“While the refinery would not compromise on the quality of its petroleum products, we assure you of best quality products that are environmentally friendly and sustainable.

“We are determined to keep ramping up production to meet and surpass our domestic fuel consumption; thus, dispelling any fear of a shortfall in supply.”

This is the first time that the price of fuel would reduce since commencement of the deregulation of the petroleum sector.