Fuel Prices Tumble As Dangote Refinery Cuts Fuel Prices For Third Time In Three Weeks


Apr 23, 2024

Dangote Petroleum Refinery has announced a further reduction in the prices of diesel and aviation fuel, following a previous price cut two weeks ago. The new prices stand at ₦940 and ₦980 per liter, respectively, depending on the quantity purchased. This marks the third significant price reduction in less than three weeks, with diesel prices dropping from ₦1,700 to ₦1,200, then to ₦1,000, and now to ₦940.

According to the Head of Communication, Mr. Anthony Chiejina, the price reduction is part of the company’s commitment to alleviating economic hardship in Nigeria. Dangote Petroleum Refinery has partnered with MRS Oil and Gas stations to ensure that consumers can purchase fuel at an affordable price across the country. The partnership aims to prevent retail buyers from being exploited by exorbitant prices.

The Director General of the Manufacturers Association of Nigeria (MAN), Mr. Ajayi Kadiri, has praised Dangote Refinery’s decision to reduce prices, citing its positive impact on the Nigerian economy. The reduction is expected to have far-reaching effects on critical sectors such as industrial operations, transportation, logistics, and agriculture, potentially easing the country’s high inflation rate.

President Bola Tinubu had previously commended Mr. Dangote for the initial price reduction, describing it as an enterprising feat. The latest price cut is seen as a welcome development for many companies that have been affected by high energy costs.”

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