The Crude Oil Refinery-owners Association of Nigeria (CORAN) extends warm commendations to the Dangote Petroleum Refinery for its recent milestone in ramping up domestic refining of Premium Motor Spirit (PMS) and effecting a significant reduction in the ex-depot price of petrol. This achievement, coming at a time when Nigerians are preparing for the yuletide season, offers much-needed relief to households and businesses across the country.

CORAN notes with pride that the Dangote Refinery continues to blaze the trail in Nigeria’s refining landscape. The recent price slash demonstrates not only operational excellence but also the refinery’s commitment to easing the economic burden high fuel costs have imposed on Nigerians. Achieving this at such a critical time further underscores the refinery’s heart for the Nigerian people.

As an active member of the Association, CORAN particularly celebrates the Chairman of the Dangote Group, Alhaji Aliko Dangote, and the entire management and staff of the refinery for this laudable feat. Their resilience, innovation, and dedication continue to set the pace for the nation’s refining vision.

CORAN also expresses appreciation to President Bola Ahmed Tinubu, GCFR, for the support extended to domestic refineries, especially through ongoing reforms and policy direction aimed at strengthening Nigeria’s energy security. We urge the Presidential Team on Energy and Petroleum Resources to continue to keep faith with the domestic refining sector. CORAN strongly believes that Nigeria’s modular and mega refineries hold a major key to unlocking broad-based economic growth in 2026.

To consolidate these gains, CORAN appeals to the Presidency to sustain reforms in the oil and gas sector with renewed vigour—particularly in ensuring adequate feedstock supply to local refineries, providing fiscal incentives to investors, and protecting the domestic refining industry as a strategic national asset.

It is worth noting that since the administration of President Umaru Musa Yar’Adua, this is the first time Nigerians are witnessing a notable reduction in fuel prices during the festive season, accompanied by the assurance of availability and zero scarcity. This moment is both historic and encouraging.

CORAN urges the Dangote Refinery to sustain this momentum and not relent in its commitment to national energy stability. We also encourage all our member refineries to remain steadfast despite current teething challenges. The future of the African petroleum market is ours to shape, and together, we will build a strong, competitive, and sustainable petroleum ecosystem for Sub-Saharan Africa.

Signed:
Eche Stephen Idoko
Publicity Secretary
Crude Oil Refinery-owners Association of Nigeria (CORAN)

Date: 12th December 2025