Indigenous firm, Dangote Petroleum Refinery, has announced a reduction in the price of its Premium Motor Spirit (PMS), also known as petrol, to ₦970 per litre for oil marketers.

The reduction, which represents an ₦20 cut, is the company's way of appreciating Nigerians "for their unwavering support in making the refinery a dream come true,” Chief Branding and Communications Officer, Anthony Chiejina disclosed in a statement on Sunday, November 24, 3034.

Recall that Dangote had pegged the ex-depot price of its petrol at ₦990 during the rollout in October.

Meanwhile, Dangote Refinery said the price reduction would complement the Federal Government's measures to encourage domestic enterprise for collective well-being.

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,” the statement partly read.

While the refinery would not compromise on the quality of its petroleum products, we assure you of the 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,” the statement partly read.

With the slash, marketers can save ₦20 on each litre of petrol bought from the Lekki-based plant.

However, it remains to be seen if the move will trickle down to the retail level where the price of the product has crossed the ₦1,000 mark.