In an unprecedented move that will benefit consumers throughout Nigeria, Dangote Petroleum Refinery has announced a further reduction of the price of diesel from 1200 to 1,000 naira per litre.
While rolling out the products, the refinery supplied at a substantially reduced price of N1,200 per litre three weeks ago, representing over 30 per cent reduction from the previous market price of about N1,600 per litre.
In a statement issued by the organisation on Tuesday, it explained the significant reduction in the price of diesel is expected to positively affect all the spheres of the economy and reduce the high inflation rate in the country.
The statement read in part, “In an unprecedented move, Dangote Petroleum Refinery has announced a further reduction of the price of diesel from N1,200 to N1,000/litre.
“While rolling out the products, the refinery supplied at a substantially reduced price of N1,200/litre three weeks ago, representing over 30 per cent reduction from the previous market price of about N1,600/litre.
“This significant reduction in the price of diesel at Dangote Petroleum Refinery is expected to positively affect all the spheres of the economy and ultimately reduce the high inflation rate in the country.”
The substantial decrease in diesel costs is set to bring about extensive impacts, with the ability to ease the pressure of elevated inflation rates currently affecting the country.
Recall that the Dangote oil refinery had started supplying the Nigerian domestic market with petroleum products such as diesel and aviation jet fuel in the country.
The launch of operations at the Dangote refinery is expected to reduce Nigeria’s reliance on imported petroleum products drastically.
Africa’s richest man Aliko Dangote had stated that Nigerians should expect a drop in inflation given the reduction of diesel pump prices.
More details to follow….
