Dangote Refinery Slashes Diesel Price to N1,000 per Litre.
Dangote Refinery has made a significant announcement expected to have far-reaching benefits for various sectors of the Nigerian economy: a substantial reduction in diesel prices. Effective immediately, the per-liter cost of diesel has been slashed to N1,000.
This announcement was made through a statement released by the refinery on Tuesday. It represents a further reduction from the N1,200 per liter price introduced just three weeks ago, marking a total decrease of over 30% compared to the previous market price of N1,600 per liter.
The refinery foresees this significant price cut to yield positive outcomes across the Nigerian economy. It is anticipated to alleviate the pressure of high inflation rates affecting numerous industries dependent on diesel fuel.
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This reduction in diesel prices follows the implementation of a one-million-liter minimum purchase requirement for diesel by oil marketers wishing to procure from Dangote Refinery.
Having been inaugurated by former President Muhammadu Buhari in May 2023, Dangote Refinery is equipped with an impressive production capacity of 650,000 barrels per day. Since commencing operations in January 2024, it has been primarily focusing on diesel and aviation fuel production.
