The Dangote Petroleum Refinery has announced a reduction in the ex-depot price of diesel from ₦990 to ₦960 per litre, effective immediately. According to the refinery’s spokesperson, Anthony Chiejina, the ₦30 price cut is part of Dangote’s efforts to ease economic pressures on businesses and consumers.
This latest reduction is consistent with the refinery’s strategy to stabilize the local fuel market by offering competitive pricing. Since starting diesel production in January 2024, the refinery has lowered prices significantly, from an initial ₦1,700 per litre to as low as ₦940 in April 2024 for bulk buyers
The Dangote Group emphasized that the price adjustment aligns with its commitment to support Nigeria’s economic recovery. “Lower diesel prices are expected to ease transportation and production costs, potentially helping to curb inflation,” the group stated.
The refinery also urged petroleum marketers to pass on the benefits to end-users, in line with its goal of promoting affordability and energy security across the country. This move is expected to have a positive impact on various industries, improving supply and driving down operating costs.
By reducing diesel prices, the Dangote Refinery is playing a crucial role in stabilizing the local fuel market and supporting the country’s economic growth.
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