Dangote refinery further drops diesel price to N940/litre

Dangote refinery further drops diesel price to N940/litre 

Dangote Petroleum Refinery has announced a further reduction in the price of both diesel to N940 per litre.

This is coming a few days after the refinery reduced diesel price to N1,000 per litre.

It also gave a new price for aviation fuel, pegging it at N980 per litre.

It disclosed this in a statement on Tuesday, saying the diesel price change of N940 is applicable to customers buying five million litres or more from the refinery, while those purchasing one million litres or more will pay N970.

It said this marked the third major reduction in diesel price “in less than three weeks when the product sold at N1,700 to N1,200 and also a further reduction to N1,000 and now N940 for diesel and N980 for aviation fuel per litre”.

Speaking on the new development, Anthony Chiejina, head of communication, Dangote Group, said the new price was in tandem with the company’s commitment to alleviating the effect of economic hardship 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 price, in all their stations, be it Lagos or Maiduguri,” he said.

“You can buy as low as one litre of diesel at N1,050 and aviation fuel at N980 at all major airports where MRS operates.”

He said the partnership would be extended to other major oil marketers.

“The essence of this is to ensure that retail buyers do not buy at exorbitant prices,” he said.

“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.”

Director-General of the Manufacturers Association of Nigeria (MAN), Ajayi Kadiri, said the decision “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 trickle-down 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.”