₦airaland Forum

The Dangote Petroleum Refinery and Petrochemicals has announced a further reduction in the price of diesel, lowering it from N1,075 to N1,020 per litre at the gantry price.

In a statement issued on Tuesday, the company said the price adjustment was aimed at serving its customers better and supporting Nigerians amid economic challenges.

Multiple Price Reductions Since January 2024

Since it commenced diesel production in January 2024, the Dangote refinery has consistently reduced prices. The product, initially sold at N1,700 per litre, was previously slashed to N1,000, demonstrating the company's commitment to market stability and affordability.

Similarly, the refinery recently lowered the ex-depot price of petrol from N950 to N890 per litre, prompting marketers to adjust pump prices, with MRS selling petrol at N925 per litre.

Economic Impact and Expert Commentary

A Development Economist and Public Policy Analyst, Prof. Ken Ife, noted that the refinery sacrificed over N10 billion to ensure uniform petrol pricing across the country during the Yuletide season.

Speaking on national television, Ife highlighted the role of the now-defunct equalisation fund in stabilizing fuel prices across Nigeria. He also revealed that the government owes marketers over N80 billion in equalisation fund payments.

Nigeria’s Position in the Global Petroleum Market

Prof. Ife emphasized that Dangote Refinery is shifting Nigeria’s focus from Premium Motor Spirit (PMS) dependency to a more diversified petroleum-based export economy.

He further noted that major international companies, including Saudi Aramco, are now purchasing refined products from Nigeria, positioning the country as an emerging powerhouse in the global petroleum market.

The latest price reduction reaffirms Dangote Refinery’s growing influence in stabilizing fuel prices and reshaping Nigeria’s energy sector.

Source: The Bureau Newspaper

Good morning

Dangote all the way.

Yoruba cabals will not allow NNPCL refinery to function at its maximum capacity.....

Rubbish move.
This is a case of Robbing Peter to pay Paul

By Virtue of Production, Diesel is supposed to be cheaper than Petrol, so definitely something is not adding up.

You want to kick-start production then think AGO, not everyone has the capacity to convert to CNG right now.

So we need explanations on why Gas oil is more expensive than Premium Spirit.

Modified
https://www.globalpetrolprices.com/articles/4/
For those quoting me unnecessary,
And yes we have one of the best sulphur free crude .

This is a good development. Gradually we are heading somewhere

Why use the word slash from 1075 to 1020

Barely 1% decrease

This is highly welcomed. We need more players in this field

E be like this Dangote still dey play

With all the slashes since December, have the prices of goods come down?

Good

That's great, competitive market is good.

Please guys, I bought this fuel yesterday into my car and also bought into keg to be used for generator.

Upon my trying to dispense into the gen, please view what I saw, doesn't smell like fuel and very reddish like all those fruity juice.

I had to pour some into this small plastic to be able to ascertain what I bought into my car and already pour into my generator.

The NNPC retail outlet is at.....along Airport Road, before SARS Junction after Obirikwerre roundabout. Port Harcourt, Rivers State.

Is this what you get NNPC when you blend fuel?

I just want to be assured that my car engine is safe as well as my health and ofcourse my generator engine.

This is absolutely unbelievable.

It doesn't have any smell of petrol at all.....

@NNPC retail outlets.....

The least you can do is to use the phone in your hand to check the price or Petro vs Diesel in international market.

Proudlyngwa:
Rubbish move.
This is a case of Robbing Peter to pay Paul

By Virtue of Production, Diesel is supposed to be cheaper than Petrol, so definitely something is not adding up.

You want to kick-start production then think AGO, not everyone has the capacity to convert to CNG right now.

So we need explanations on why Gas oil is more expensive than Premium Spirit.

Nonsense

How can you call this a slash. I thought it will even be 500 naira

NNPC Lagos 945

Hopefully this reflects in businesses and not just on paper

Slashes upwards

These people are just managing this situation intentionally on a Very slow peace.
Why is NNPC not giving Dangote the necessary competition, are buying crude in the international market too?

NO government means well for this country at all

Proudlyngwa:
Rubbish move.
This is a case of Robbing Peter to pay Paul

By Virtue of Production, Diesel is supposed to be cheaper than Petrol, so definitely something is not adding up.

You want to kick-start production then think AGO, not everyone has the capacity to convert to CNG right now.

So we need explanations on why Gas oil is more expensive than Premium Spirit.

Taxes play a role and demand too

He is not slashing anything! He is following the price of oil price in the world oil market.Its an obligation to do it in other to avoid sanction from the USA.The more the exchange rate drops,the less the price
He should explain why cement is 10,000 naira.

RealGandalf:
Source: The Bureau Newspaper

You guys are fond of writing stupid headlines. What do you mean by "slashes prices"

Mathewrichard99:
That's great, competitive market is good.

Please guys, I bought this fuel yesterday into my car and also bought into keg to be used for generator.

Upon my trying to dispense into the gen, please view what I saw, doesn't smell like fuel and very reddish like all those fruity juice.

I had to pour some into this small plastic to be able to ascertain what I bought into my car and already pour into my generator.

The NNPC retail outlet is at.....along Airport Road, before SARS Junction after Obirikwerre roundabout. Port Harcourt, Rivers State.

Is this what you get NNPC when you blend fuel?

I just want to be assured that my car engine is safe as well as my health and ofcourse my generator engine.

This is absolutely unbelievable.

It doesn't have any smell of petrol at all.....

@NNPC retail outlets.....

My car misfires, it affects my RPM too. Just avoid it next time

Am in Jos

tunwumi:
The least you can do is to use the phone in your hand to check the price or Petro vs Diesel in international market.

Oga for countries that produce without subsidy payment.

Cost of producing Diesel is far cheaper.


There is a reason modular refineries can produce Diesel and can't produce PMS.

Them no call am Premium Motor Spirit for nothing.

Gotocourt:
Taxes play a role and demand too

Tax Consumption not Production.
A lot of drilling activities stopped because of high cost of Diesel, if there is anything that should be tax free till the economy balances it should be diesel.

Note I am against subsidising Diesel.

Proudlyngwa:
Tax Consumption not Production.
A lot of drilling activities stopped because of high cost of Diesel, if there is anything that should be tax free till the economy balances it should be diesel.

Note I am against subsidising Diesel.

I can't agree less

The Fuel I will like to av Subsidy on is Diesel or that I will like to go cheaper....


Company, Productions heavy duty machine, and Farm Machinery and logistics majorly use Diesel this will help cost of produce go down well.

I can do without Petrol for a week or a month staying indoor buh from the Telecommunication Mass to the Truck coming to distribute things from the company and derr production all uses Diesel.... So basically someone can't avoid Diesel one way or the other daily....

Good development

Mathewrichard99:
That's great, competitive market is good.

Please guys, I bought this fuel yesterday into my car and also bought into keg to be used for generator.

Upon my trying to dispense into the gen, please view what I saw, doesn't smell like fuel and very reddish like all those fruity juice.

I had to pour some into this small plastic to be able to ascertain what I bought into my car and already pour into my generator.

The NNPC retail outlet is at.....along Airport Road, before SARS Junction after Obirikwerre roundabout. Port Harcourt, Rivers State.

Is this what you get NNPC when you blend fuel?

I just want to be assured that my car engine is safe as well as my health and ofcourse my generator engine.

This is absolutely unbelievable.

It doesn't have any smell of petrol at all.....

@NNPC retail outlets.....

hard to say....not many nigerians understand the difference....

i dont care....i just trust what the seller says it is....

From 150 to 1020

See Nigerians begging for 1000

Haha

Even Slash from Guns n Roses will be shocked.
How many slashes do u need to make the citizens say that diesel is cheap?