Business
Again, Dangote Refinery Slashes Diesel And Aviation Fuel Price
Dangote Petroleum Refinery has once again announced a decrease in the prices of diesel and aviation fuel to N940 and N980 per litre, respectively.
This latest price adjustment comes just two weeks after the refinery lowered the price of diesel to N1,000.
The reduced price of N940 is specifically for customers purchasing five million litres or more from the refinery, while the price of N970 is for those buying one million litres or more.
Anthony Chiejina, the Head of Communications at Dangote Group, confirmed the new pricing strategy in an official statement issued on Tuesday morning, emphasizing that it is part of the company’s commitment to alleviating economic challenges in Nigeria.
“I can confirm to you that 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,” Chiejina stated.
According to him, the partnership will be extended to other major oil marketers.
“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 a better welfare and as such, we are happy to announce this new prices and hope that it would go a long way to cushion the effect of economic challenges in the country,” he added.
Two weeks prior, Dangote Petroleum Refinery’s management declared another decrease in the diesel price, dropping it from 1200 to 1,000 naira per litre.
This signifies the third significant price cut for diesel in under three weeks, with the product initially being sold at N1,700 to N1,200, then further reduced to N1,000, and now at N940 for diesel and N980 for aviation fuel per litre.
President Bola Tinubu had previously praised Dangote for the initial price reduction, hailing it as a remarkable achievement.
Reacting to the latest development, 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.
“The trickledown effect of this singular intervention promises to change the dynamics in the energy cost equation of the country, in the midst of inadequate and rising cost of electricity.
“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; a lot of companies will be back in operation.”
