BREAKING: Diesel Now Cheaper Than Ever As Dangote Refinery Reduces Prices (See New Price)

BREAKING: Diesel Now Cheaper Than Ever As Dangote Refinery Reduces Prices (See New Price)

Dangote Petroleum Refinery & Petrochemicals has announced a fresh reduction in the price of its diesel products. According to Ireporteronline, the refinery has lowered the diesel price to ₦1,020 per litre, down from the previous ₦1,075 per litre at the gantry. This move aims to provide greater relief to Nigerian consumers and businesses.……READ MORE 

Since the refinery began diesel production in January 2024, it has consistently reduced prices, starting from ₦1,700 per litre to the current rate. This downward trend has been welcomed by manufacturers and consumers alike, offering significant cost relief.

Development economist and public policy analyst, Ken Ife, revealed that the refinery sacrificed over ₦10 billion to maintain petrol availability at a uniform price across Nigeria during the festive period. He commended Dangote Refinery for setting a new standard in Nigeria’s energy sector and creating vast export opportunities.

Speaking on Arise TV, Ife highlighted how the Equalisation Fund, previously responsible for managing price differences and transportation costs nationwide, currently owes marketers over ₦80 billion. He pointed out that the subsidy burden has shifted from the government to the private sector, with Dangote Refinery absorbing these costs during the Christmas season to prevent petrol shortages and price hikes.

Prof. Ife further emphasized the refinery’s role in steering Nigeria away from its traditional focus on Premium Motor Spirit (PMS) towards diversified petroleum-based exports. With international giants like BP and Saudi Aramco purchasing refined products from Nigeria, the country is rapidly positioning itself as a major player in the global petroleum market.

He expressed optimism about Nigeria’s journey towards self-sufficiency in petroleum products and its emerging status as an energy export powerhouse.