In a move that is set to have a wide reaching impact on Nigeria’s economy, Dangote Petroleum Refinery has made a groundbreaking announcement, slashing the price of diesel from N1,200 to a mere N1,000 per litre. This substantial price drop comes just three weeks after the refinery began supplying diesel at N1,200 per litre, a price already reduced by over 30% from the previous market rate of approximately N1,600 per litre.
The refinery’s decision is poised to send positive ripples across various economic sectors and is anticipated to play a crucial role in curbing the nation’s soaring inflation rates. The price reduction aligns with Dangote Refinery’s commitment to fostering economic growth and stability in Nigeria.
As the country grapples with inflationary pressures, this significant decrease in diesel costs is expected to lower operational expenses for businesses, enhance transportation affordability, and ultimately benefit the end consumer. The move is also seen as a strategic step by Dangote Refinery to position itself as a leader in the competitive fuel market, offering more accessible pricing to the Nigerian populace.