In a statement, the company's spokesman, Anthony Chiejina, explained that the price reduction aims to ease transport costs during the festive period. He also announced that consumers can now purchase an additional litre of fuel on credit for every litre bought on a cash basis.

Previously, in November, the privately-owned Dangote Refinery had reduced its petrol price to N970 per litre. However, in a bid to further support Nigerians during the holiday season, the refinery has now cut the price to N899.50 per litre.

"To ease transport costs during this holiday season, Dangote Refinery is offering a festive discount on PMS. Starting today, our petrol will be available at N899.50 per litre at our truck loading gantry or SPM. Additionally, for every litre purchased on a cash basis, consumers will be able to buy another litre on credit, with a bank guarantee from Access Bank, First Bank, or Zenith Bank," said Chiejina.