In a bid to alleviate the financial burden on consumers and contribute to economic stability, Dangote Petroleum Refinery has announced a further reduction in the price of diesel from 1,200 to 1,000 naira per litre.
This latest price adjustment comes after the refinery previously rolled out diesel at a reduced price of 1,200 naira per litre three weeks ago, representing a significant reduction of over 30 percent from the previous market price of about 1,600 naira per litre.
The decision to slash the price of diesel was motivated by a desire to positively impact various sectors of the economy and combat the high inflation rate in the country. With diesel being a crucial component in transportation, agriculture, and various industries, the reduction in price is expected to provide relief to businesses and consumers alike.
In a statement released by the organization on Tuesday night, the refinery emphasized its commitment to supporting economic growth and stability in Nigeria. The move to lower the price of diesel reflects Dangote Refinery’s dedication to providing affordable and accessible energy solutions to meet the needs of the Nigerian populace.
As consumers and businesses welcome this latest development, stakeholders across sectors will be monitoring the impact of the reduced diesel price on inflation, transportation costs, and overall economic performance. With Dangote Refinery setting a precedent for affordable energy pricing, it remains to be seen how other players in the industry will respond to promote economic recovery and sustainability.
