Dangote Petroleum Refinery has again announced a further reduction in the prices of both diesel and aviation fuel to N940, N980 per litre respectively.

This is coming at the wake of its widely celebrated price reduction to N1,000 barely two weeks ago.

The price change of N940 is applicable to customers buying five million litres and above from the refinery, while the price of N970 is for customers buying one million litres and above.

Speaking on the new development, the Head of Communication, Mr Anthony Chiejina, explained that the new price is in consonance with the company’s commitment to cushion the effect of economic hardship in Nigeria.

Chiejina said, “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.”

He further stated that the partnership will be extended to other major oil marketers.

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

It would be recalled that the management of Dangote Petroleum Refinery announced a further reduction of the price of diesel from N1200 to N1,000 per litre barely two weeks ago.

This marks 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.

Nigerian President Bola Tinubu had also commended Mr Dangote for the initial price reduction, describing it as an “enterprising feat.”

Reacting to the latest development, the Director General of the Manufacturers Association of Nigeria (MAN), Mr Ajayi Kadiri, said that, “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.”

He added that, “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.

“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; a lot of companies will be back in operation.”

https://www.vanguardngr.com/2024/04/again-dangote-crashes-diesel-aviation-fuel-prices-to-n940-n980-respectively/

Nlfpmod

We don dey move

When will the price reduction reflect on the streets of Nigeria

That's what Nigerians are interested in, not these rhetorics

No be by writing on pages of newspapers, let the poor masses confirm it themselves...

Dollar fell on the black market today, price of diesel has come down again. This is a good Tuesday 👍🏾

This is something we would have been enjoying long ago if Nigéria had functional refineries. Well done, Alhaji Aliko Dangote!

I told one of my brothers last week that Alhaji Dangote is on the Road to becoming one of the top 50th Richest men in the world,it is not matter of if but when,This is no longer a monopoly it is "totalpoly".The complete control of energy prices in Nigeria and West Africa has began
In Business you must have foresight,Mr Femi Otedola was one of the biggest importers of Diesel in Nigeria, when he saw that Alhaji Dangote was serious about building his Refinery,he quickly diverted and stepped out of the Business
OandO petroleum was one of the biggest players in the Downstream sector,they too like Mr Otedola quickly sold off all their assets and moved all their business Upstream,some investors who felt Dangote Refinery was a scam are now at the mercy of Alhaji Dangote
It is now a waste to even think importation because Dangote has covered his angles well and the competition will soon dry up

I am telling everyone reading this,that there is still room to invest along that Ibeju Lekki Industrial Hub,the door is gradually closing for new invsetors,visit my signature to learn more how you can invest along that corridor

Na fuel remain, good one from the refinery if this is true.

Diesel is pegged at the rate of 1 dollars.

But normally with our crude and refinery, diesel no suppose pass 5 hundred naira

When will pump price drop, audio upandan

Hmm

c

Senior man

Slowly

Likes for Dangote, shares for FGN

I hope he would be able to pay his debts at this rate...

Still, free market as it should be. The producer sets their prices, not government coming in to set prices at N100 for diesel...and then they struggle to pay N800 subsidy, because 'no money'...and then wahala starts.

That's great.

Why this is a welcome development, there's still need for the price to reduce more.

Dan of Nigeria

Where is our 700😶

We have the raw crude Oil
We have the Refineries

I think we deserve cheap

Nigeria is winning.
Meanwhile Obidients together with their saviour, messiah are still searching for the school Peter Obi initiated, built and commissioned during his 8 years tenure as governor of Anambra state to win uncle Reno's 11m Naira.

Slow but steady nonetheless a good move, Nigeria needs more working refineries to ease the cost of fuel on the masses.

This is good! But beyond crashing the prices, sustainability is key. Don't make this another 'market entry' strategy.

How come diseil I'd still sold at between 1350 and 1510 in ?

Still a monopoly business. If there are competitors, we would have judged right.

Rope Time.

A

More of such we seek

what about price of cement?

Golan007:


You dey build house abi?

why you come look me like dat? na where the shoe take pinch everybody him go take cry now.

christejames:
No be by writing on pages of newspapers, let the poor masses confirm it themselves...

...Yes o. Let the masses feel it too.