Dangote Refinery Reduces Diesel and Aviation Fuel Again

On Tuesday, the Dangote refinery announced that aviation fuel and diesel prices would now sell for N980 and N940 per litre, respectively.

This follows the company's announcement last week that it would reduce the diesel price from N1,200 to N1,000 per litre.

In a statement on Tuesday, its Group Head, Corporate Communications, Anthony Chiejina, explained that the company is committed to ensuring that Nigerians have better welfare.

Related News:

• Dangote Refinery Slashes Diesel Price From N1200 to N1000

• Dangote Refinery Approve Registration 75% Marketers For Distribution of Refine Products

• Dangote Petroleum Refinery Receives Its Fourth Shipment From the NNPCL

According to the statement, customers purchasing five million litres or more from the refinery will pay N940, while those purchasing one million litres or more will pay N970.

"I can confirm that Dangote Petroleum Refinery has entered a strategic partnership with MRS Oil and Gas stations to ensure consumers buy fuel at affordable prices in all their stations, be it Lagos or Maiduguri. You can buy as little as 1 litre of diesel at N1,050 and aviation fuel at N980 at all major airports where MRS operates," Mr Chiejina said.

He explained that the partnership would 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 better welfare. As such, we are happy to announce these new prices and hope they will go a long way in cushioning the effect of economic challenges in the country," he said.

Reacting to the latest development, the Director General of the Manufacturers Association of Nigeria (MAN), Ajayi Kadiri, said, "The company's decision to 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 impact the fortunes of the national economy positively.

READ ALSO: How to Effectively Use Cold Mail to Land Your Next Job

"The trickle-down effect of this singular intervention promises to change the dynamics in the country's energy cost equation amid inadequate and rising electricity costs. The reduction will have far-reaching effects in critical sectors like industrial operations, transportation, logistics, and agriculture, contributing to easing the country's high inflation rate; many companies will be back in operation," Mr. Kadiri said.

The Dangote Petroleum Refinery started producing aviation fuel and diesel in January.

On Tuesday last week, the Dangote refinery announced that the price of a litre of diesel would be reduced from N1,200 to N1,000.

The company believed the significant decrease in diesel prices would positively affect every aspect of the economy, including Nigeria's high inflation rate.