For many Nigerians struggling with the rising cost of living, Dangote Petroleum Refinery’s latest decision to reduce the ex-depot price of Premium Motor Spirit (PMS) from N950 to N890 brings a glimmer of hope.
The move, which takes effect on Saturday, is expected to ease the financial burden on ordinary citizens, particularly transporters, traders, and low-income earners who have been grappling with high fuel prices.
Many see this as a potential turning point in their daily struggles, as cheaper petrol could mean reduced transportation fares and lower costs of goods and services.
For Oluchi, a Lagos-based bus driver, the news couldn’t have come at a better time. “Fuel price has been killing us. Every day, passengers complain about high fares, but we have no choice because petrol is expensive. If the price really comes down, it will be a relief for all of us,” he said.
Market traders also anticipate a positive impact. “Everything we sell depends on transportation. If transport costs reduce, food prices may also drop, and that will help families trying to survive,” said Mama Bisi, a tomato seller in Mushin.
The Dangote Refinery, in a statement by its Group Chief Branding and Communications Officer, Anthony Chiejina, emphasized that the price adjustment aligns with the drop in global crude oil prices.
The company urged petroleum marketers to ensure that the reduction reaches consumers, reinforcing its commitment to economic stability.
This development aligns with President Bola Ahmed Tinubu’s economic revival plan, which aims to make Nigeria self-sufficient in refined petroleum products.
As the nation watches closely, many Nigerians hope that this price drop will translate into tangible relief, making everyday life a little easielllT
