JUST IN: DANGOTE CRASHES DIESEL PRICE TO N1,000 PER LITRE

In an  unprecedented move, Dangote Petroleum Refinery has announced a further reduction of the price of diesel from 1200 to 1,000 naira per litre.

While rolling out the products, the refinery supplied at a substantially reduced price of N1,200 per litre three weeks ago, representing over 30 per cent reduction from the previous market price of about N1,600 per litre.

This significant reduction in the price of diesel, at Dangote Petroleum Refinery, is expected to positively affect all the spheres of the economy and ultimately reduce the high inflation rate in the country.

The Dangote Petroleum Refinery recently commenced the distribution of diesel and aviation jet fuel to oil marketers, marking a significant development in Nigeria’s petroleum sector.

This milestone is particularly notable as the refinery begins to fulfil its role in supplying the domestic market with crucial petroleum products.

The refinery, which can process up to 650,000 barrels per day, is poised to become the largest in Africa and Europe once it reaches total operational capacity, anticipated within this year or the next.

The launch of operations at the Dangote refinery is expected to reduce Nigeria’s reliance on imported petroleum products drastically.

The new refinery puts Nigeria in an excellent position to enhance its energy security and economic stability.