Dangote Petroleum Refinery has announced a further reduction in the prices of diesel and aviation fuel to N940 and N980 per litre respectively. This marks the third significant reduction in diesel price in less than three weeks, from N1,700 to N1,200, then to N1,000, and now N940 for diesel and N980 for aviation fuel per litre.
However, the price change of N940 is only applicable to customers buying five million litres and above from the refinery, while the price of N970 is for customers buying one million litres and above.
The spokesman of the Dangote Refinery, Mr Anthony Chiejina, noted that the new price regime is in line with the company’s commitment to tackling the effect of economic hardship in Nigeria. He confirmed, “Dangote Petroleum Refinery has entered a strategic partnership with MRS Oil and Gas stations, to ensure that consumers get to buy fuel at affordable prices, in all their stations be it Lagos or Maiduguri. You can buy as low as 1 litre of diesel at N1,050 and aviation fuel at N980 at all major airports where MRS operates.”
According to him, the partnership will be extended to other major oil marketers. He added, “The essence of this is to ensure that retail buyers do not buy at exorbitant prices. The Dangote Group is committed to ensuring that Nigerians have better welfare and as such, we are happy to announce these new prices and hope that it would go a long way to cushion the effect of economic challenges in the country.”
Reacting to the latest development, the Director General of the Manufacturers Association of Nigeria (MAN), Mr Ajayi Kadiri, said, “The decision of Dangote Refinery to first crash the price from about N1,750/litre to N1,200/litre, N1,000/litre and now N940 is an eloquent demonstration of the capacity of local industries to positively impact the fortunes of the national economy.”
He further stated that the reduction will have far-reaching effects in critical sectors like industrial operations, transportation, logistics, and agriculture, contributing to easing the high inflation rate in the country.
Recall that while briefing newsmen following his homage visit to President Bola Tinubu for Eid-el-Fitr in Lagos, Dangote said there has been considerable economic progress recently, indicating that the country is on the right path. He stated that his refinery is offering diesel at N1,200, below the market rate of N1,650, and he believes this will contribute to lowering inflation in the country.
