Dangote Reduces Price Of Diesel (See New Price)

Dangote Petroleum Refinery has further slashed diesel prices, from N1,200 to N1,000 per litre, aiming to mitigate the escalating inflation rates in Nigeria.

This reduction follows a previous price cut three weeks ago when the refinery initially decreased its diesel price by over 30%, down from N1,600 to N1,200 per litre.

The refinery has described this decision as a strategic move expected to “this significant reduction in the price of diesel, at Dangote Petroleum Refinery, is expected to positively affect all the spheres of the economy and ultimately reduce the high inflation rate in the country.”

During an interview with newsmen, the Executive Director of the Dangote Group, Devakumar Edwin, emphasized the refinery’s robust output capabilities.

“We have substantial quantities. Products are being evacuated both by sea and road. Ships are lining up one after another to load diesel and aviation jet fuel. Ships load a minimum of 26 million litres, though we try to push for 37 million litres vessels, for ease of operations,” Edwin stated.

The announcement comes days after an APC chieftain in Osun State, Olatunbosun Oyintiloye, called on President Bola Tinubu to address what he termed excessively high diesel prices at the Dangote Petroleum Refinery.

In a press conference in Osogbo, Oyintiloye argued that, “as a domestically produced commodity, diesel prices should be significantly lower than those of imported counterparts.”

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