Dangote Petroleum Refinery has taken a significant step to support Nigeria's economy by reducing the price of diesel by 16.6% to N1,000 per litre, down from N1,200 per litre. This move aims to address the high cost of diesel, which has been attributed to importation and foreign exchange challenges. The refinery previously lowered the price to N1,200 per litre, marking a 30% reduction from the market price of N1,600 per litre.
The company believes that this reduction will have a positive impact on the economy and contribute to reducing the high inflation rate in the country. Alhaji Aliko Dangote, the Chairman of Dangote Group, highlighted the refinery's efforts to sell diesel at a reduced price, emphasizing that this would provide immediate relief to Nigeria's inflation challenges. He noted that the refinery had been selling diesel at N1,200 per litre, compared to the previous market price of N1,650–N1,700.
Dangote expressed optimism that the reduction in fuel costs would help drive down inflation in the coming months. He noted that the recent improvements in the exchange rate had been beneficial, as it had reduced the cost of diesel. Dangote also commended the government's efforts to improve the economic situation, stating that it was in everyone's interest to work towards a better future.
