Dangote Petroleum Refinery has dropped the cost of its diesel product to 1,020 Naira per litre, which is a downward fall in price from 1,075 Naira per litre.
In a statement, made on Wednesday, the 20 Billion Naira company said the reduction was part of its effort to better serve its customers and Nigerians in general.
The company stated that; “Since it began diesel production in January 2024, the refinery has reduced the price of diesel more than three times, from an initial 1,700 Naira per litre to the current rate, thus providing much-needed relief to manufacturers and consumers alike.
Recently, the private refinery slashed its ex-depot price for petrol from 950 Naira per litre to 890 Naira “based on market realities”.
Nigeria, Africa’s most populous nation, faces energy challenges, with all its state-owned refineries non-operational for decades until 2024. The country was heavily reliant on imported refined petroleum products, with the state-run NNPC being the major importer of the essential commodities.
Fuel queues are commonplace in the country. Prices of petrol more than quadrupled since the removal of subsidy in May 2023 by President Bola Tinubu, from around ₦200/litre to over ₦1000/litre, compounding the woes of the citizens who power their vehicles, and generating sets with petrol, no thanks to decades-long epileptic electricity supply.
