The Dangote Petroleum Refinery and Petrochemicals has dropped the price of its diesel product to ₦1,020 per litre, down from ₦1,075 per litre on the gantry worth.
In an announcement, the $20bn firm mentioned the discount was a part of its effort to higher serve its prospects and Nigerians usually.
“Because it started diesel manufacturing in January 2024, the refinery has lowered the worth of diesel greater than 3 times, from an preliminary N1,700 per litre to the present price, thus offering much-needed aid to producers and customers alike,” the corporate acknowledged.
Just lately, the personal refinery slashed its ex-depot worth for petrol from ₦950 per litre to ₦890 “based mostly on market realities”.
READ ALSO: Importation Not A Crime, Monopoly Ought to Be Discouraged — Oil Entrepreneurs
Nigeria, Africa’s most populous nation, faces vitality challenges, with all its state-owned refineries non-operational for many years till 2024. The nation was closely reliant on imported refined petroleum merchandise, with the state-run NNPC being the most important importer of the important commodities.
Gasoline queues are commonplace within the nation. Costs of petrol greater than quadrupled because the removing of subsidy in Might 2023 by President Bola Tinubu, from round ₦200/litre to over ₦1000/litre, compounding the woes of the residents who energy their automobiles, and producing units with petrol, no due to decades-long epileptic electrical energy provide.
Final December, Aliko Dangote, Africa’s main industrialist, commenced operations on the facility located in Lagos with 350,000 barrels a day. The refinery, which was initially bogged by regulatory battles, hopes to attain its full capability of 650,000 barrels per day by the tip of the 12 months. The refinery has begun the availability of diesel and aviation gasoline to entrepreneurs within the nation and now petrol.
Equally, in 2024, the NNPCL mentioned the Port Harcourt and Warri refineries have come again on stream and loading of petrol has resumed.
The publish Dangote Refinery Drops Diesel Value From ₦1,075 To ₦1,020 Per Litre appeared first on Channels Tv.
