Dangote refinery on Tuesday announced a reduction in the price of diesel from N1,200 to N1,000 per litre.
The company in a statement on Tuesday said the significant
reduction in the price of diesel is expected to positively affect all the
spheres of the economy and ultimately reduce the high inflation rate in the
country.
“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
company said.
Dangote Petroleum Refinery had earlier in January commenced
production of diesel and aviation fuel.
Announcing the commencement in a statement, the company said
the refinery had received six million barrels of crude oil at its two SPMs
located 25 kilometres from the shore.
The first crude delivery was done on 12 December 2023, and
the 6th cargo was delivered on 8 January.
The first cargo that arrived at the plant was from Agbami
crude grade from Shell International Trading and Shipping Company Limited
(STASCO), one of the largest trading companies in Nigeria and globally, trading
over 8 million barrels of crude oil daily.
The company made a further move towards the commencement of
the production of refined petroleum products with the receipt of an additional
one million barrels of bonny light crude supplied by the Nigeria National
Petroleum Company (NNPC Ltd).
The fresh one million barrels of crude from the Shell
terminal via the MT Otis owned by Trafigural is the second consignment to be
delivered to the Dangote facility out of the six million barrels of crude being
expected by the world’s largest single-train refinery.
Earlier in the month, the company commenced the supply of
petroleum products to the local market.
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