Dangote Petroleum Refinery has reduced the price of petrol for the second time this February, lowering the ex-depot price from N890 to N825 per litre.

The new price, which takes effect from Thursday, February 27, is part of the company’s effort to ease the cost of living for Nigerians.

In a statement, the refinery said the move is to support President Bola Tinubu’s economic recovery plan and provide relief during the Ramadan season.

Earlier this month, the refinery had cut the price by N60, bringing the total reduction to N125 per litre since January, when the price was N950.

With the latest price slash, petrol is expected to sell between N860 and N865 per litre at filling stations in Lagos.

Prices may vary across other regions, with the South-South and South-East expected to buy at higher rates.

Dangote assured Nigerians that there’s enough fuel in storage to meet local demand and even for export.

Meanwhile, the Petroleum Products Retail Outlet Owners Association of Nigeria (PETROAN) has intervened in the delayed payment of N100 billion bridging claims owed to marketers by the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA).

PETROAN urged its members to avoid shutting down operations and embrace dialogue to prevent fuel scarcity. The association said dialogue would help protect businesses and prevent hardship on Nigerians.

Both Dangote and PETROAN called on marketers to support the government’s efforts to reform the petroleum sector and strengthen the untry’s economy.