Dangote Refinery has again lowered the price of petrol. The new price is now N820 per litre, down from N840, and it takes effect immediately.
Just last week, the refinery reduced the price from N880 to N840. Now, they’ve dropped it further.
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More petrol sellers across Nigeria are now buying from Dangote Refinery because it promises a steady supply of good-quality petrol.
Dangote Group’s spokesperson, Mr. Anthony Chiejina, confirmed the price drop. He said, “The price of petrol has been reduced to N820 per litre.”
He explained that the last price cut (to N840) was due to the rising cost of crude oil during a recent 12-day crisis in the Middle East.
The refinery’s partners like MRS, Heyden, Ardova (AP), Hyde, Optima, and Techno Oil are expected to start selling at the new lower price.
More companies have also joined the list of sellers working with Dangote. These include:
TotalEnergies, Garima Petroleum, Sunbeth Energies, Sobaz Nigeria Ltd., Virgin Forest Energy, Sixxco Oil Ltd., N.U. Synergy Ltd., Soroman Nigeria Ltd., Jezco Oil Nigeria Ltd., Jengre, Cocean, Kifayat, Triumph Golden, Sifem Global, Riquest, and Mamu Oil, among others.
Dangote Refinery is the largest single-unit refinery in the world. It is working hard to supply more fuel locally at better prices.
The refinery recently shared that it is spending over N720 billion to bring in 4,000 trucks that use Compressed Natural Gas (CNG) to deliver fuel across Nigeria. This project is expected to save Nigerians over N1.7 trillion every year.
According to the management, the refinery will cover over N1.07 trillion in delivery costs yearly. This plan will help over 42 million small businesses by lowering fuel and energy costs.
Also, by cutting out delivery costs for fuel sellers and big fuel users, the project should help reduce fuel prices and even inflation.
Dangote Refinery earlier said it would start direct delivery of petrol and diesel to filling stations and factories starting August 15.