The Dangote Petroleum Refinery has announced the reduction in the price of its Premium Motor Spirit (PMS) popularly called petrol from N990 to N970 per litre.

Group Chief Branding and Communications Officer of Dangote Group, Anthony Chiejina, said in a statement on Sunday, saying the reduction was to appreciate Nigerians as the year ends.

"As the year comes to an end, this is our way of appreciating the good people of Nigeria for their unwavering support in making the refinery a dream come true.

"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 read.

Chiejina stated that the refinery would not reduce the quality of its petroleum as a result of this reduction in price, assuring that it would still be of best quality 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 said.