The Dangote Petroleum Refinery and Petrochemicals has announced a further reduction in diesel prices, bringing the cost down to ₦1,020 per litre from the previous ₦1,075 per litre at the gantry.
According to the $20 billion refinery, this is the third price reduction since the refinery commenced diesel production in January 2024.
“Since commencing diesel production in January 2024, we have reduced prices more than three times, from an initial ₦1,700 per litre to the current rate, providing much-needed relief to manufacturers and consumers alike,” the company stated.
In addition to the diesel price cut, the refinery recently lowered its ex-depot petrol price from ₦950 per litre to ₦890, citing market factors.
Nigeria has long struggled with fuel supply challenges, largely due to the inactivity of state-owned refineries for decades.
Until 2024, the country depended heavily on imported refined petroleum products, with NNPC Limited serving as the primary importer.
Following the fuel subsidy removal in May 2023 under President Bola Tinubu, petrol prices surged, further exacerbating economic hardships.
However, in a bid to improve local refining capacity, NNPC Limited has announced the resumption of operations at the Port Harcourt and Warri refineries, marking a crucial step toward reducing Nigeria’s dependence on fuel imports.
