Dangote Petroleum Refinery has announced another price reduction for diesel and aviation fuel, with diesel now selling at N940 per liter and aviation fuel at N980 per liter.
This reduction comes just two weeks after the company slashed prices to N1,000 per liter.
The new prices apply to customers buying in bulk, with smaller quantities available at slightly higher rates.
According to Anthony Chiejina, Head of Communication, the price change is part of the company’s commitment to “cushion the effect of economic hardship in Nigeria.”
Chiejina explained that Dangote Petroleum Refinery has partnered with MRS Oil and Gas stations to ensure affordable fuel prices nationwide, with plans to extend the partnership to other major oil marketers.
He stated, “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.
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.”
The company’s goal is to prevent retail buyers from being exploited by exorbitant prices.
This marks the third significant price reduction in less than three weeks, with diesel prices dropping from N1,700 to N1,200, then to N1,000, and now to N940 per liter.
President Bola Tinubu has praised Dangote’s efforts, calling the initial price reduction an “enterprising feat.”
The Director General of the Manufacturers Association of Nigeria (MAN), Ajayi Kadiri, has also commended the move, saying it demonstrates the potential of local industries to positively impact the national economy.
The price reduction is expected to have far-reaching effects on critical sectors like industrial operations, transportation, logistics, and agriculture, contributing to easing the high inflation rate in the country.
