Again, Dangote further crashes price of diesel, aviation fuel

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Dangote Petroleum Refinery has announced another significant reduction in the prices of diesel and aviation fuel to ₦940 and ₦980 per litre, respectively. This follows an earlier reduction to ₦1,000 per litre.

The new pricing is designed to help mitigate the effects of economic hardship in Nigeria and comes just a week after the company, in a groundbreaking development for consumers across Nigeria, reduced the price of diesel from ₦1,200 to ₦1,000 per litre.

Under this new price structure, customers purchasing five million litres and above will pay ₦940 per litre, while those buying one million litres and above will pay ₦970.

The Head of Communication, Mr. Anthony Chiejina, explained that this price reduction is part of the company’s ongoing efforts to support Nigerians during challenging economic times. To ensure that consumers can access fuel at affordable prices, Dangote Petroleum Refinery has entered into a strategic partnership with MRS Oil and Gas stations. As part of this partnership, diesel can be purchased for ₦1,050 per litre and aviation fuel for ₦980 per litre at MRS stations across 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. You can buy as low as one litre of diesel at ₦1,050 and aviation fuel at ₦980 at all major airports where MRS operates.”

Mr. Chiejina also noted that the partnership would be extended to other major oil marketers to help prevent price hikes at the retail level. This initiative is aimed at ensuring that consumers can purchase fuel at fair prices across the country.

“The Dangote Group is committed to ensuring that Nigerians have a better welfare and as such, we are happy to announce these new prices and hope that it would go a long way to cushion the effect of economic challenges in the country.

This recent announcement marks the third major reduction in diesel prices in less than three weeks. Initially, diesel was sold at ₦1,750 per litre, then it was reduced to ₦1,200, followed by ₦1,000, and now ₦940 for diesel and ₦980 for aviation fuel. These price reductions have been praised by many, including Nigerian President Bola Tinubu, who commended Dangote for this “enterprising feat.”

The Director General of the Manufacturers Association of Nigeria (MAN), Mr. Ajayi Kadiri, welcomed the latest price reductions, indicating that it is a strong demonstration of the capacity of local industries to positively impact the national economy. He highlighted that the price reductions would have a significant impact on the energy costs in the country, affecting critical sectors such as industrial operations, transportation, logistics, and agriculture. This, in turn, could help to ease the high inflation rate in Nigeria and potentially lead to the reopening of companies that had ceased operations due to high energy costs.

The ongoing reductions by Dangote Petroleum Refinery provide a glimmer of hope for many Nigerians facing economic hardships, signaling a positive shift in the nation’s energy cost dynamics.

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