Dangote Refinery Reduces Diesel Price by N55 Per Litre

In a move aimed at providing relief to manufacturers and consumers, Dangote Petroleum Refinery & Petrochemicals has reduced the price of its diesel product by N55 per litre, bringing the cost down to N1,020 per litre.

This is the third time the refinery has reduced the price of diesel since it began production in January 2024. The initial price was N1,700 per litre, and the latest reduction is expected to have a positive impact on the economy.

According to Development Economist and Public Policy Analyst, Prof. Ken Ife, the Dangote Petroleum Refinery sacrificed over N10 billion to ensure the availability of petrol at a uniform price across the country during the yuletide period.

Prof. Ife praised the refinery for setting a new benchmark in Nigeria’s energy sector, unlocking vast opportunities for export revenue.

Henoted that the facility is steering Nigeria away from its traditional focus on Premium Motor Spirit (PMS) towards a diversified range of petroleum-based exports.

With major international players such as BP and Saudi Aramco purchasing refined products from Nigeria, the country is swiftly becoming a key player in the global petroleum market.

Prof. Ife expressed confidence that Nigeria is on the path to self-sufficiency in petroleum products, while simultaneously positioning itself as an energy export powerhouse.

The price reduction is expected to have a positive impact on the economy, as diesel is a critical component in the production and distribution of goods and services.

The move is seen as a welcome development for manufacturers and consumers, who have been grappling with high energy costs.