The Dangote Petroleum Refinery on Tuesday has announced the plan to further reduce the prices of both diesel and aviation fuel to N940, sand N980 per litre respectively.
The Head of Communication, Mr Anthony Chiejina, while speaking on the new development, he said the new price aligns with the company’s commitment to reduce the effect of economic hardship in Nigeria.
He further stated that 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.
It would be recalled that the management of Dangote Petroleum Refinery announced a further reduction of the price of diesel from 1200 to 1,000 Naira per litre barely two weeks ago.
Reacting to the latest development, the Director General of the Manufacturers Association of Nigeria, 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 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’
President Bola Tinubu had also commended Dangote for the initial price reduction, describing it as an “enterprising feat.”
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