Dangote Petroleum Refinery has announced another reduction
in the prices of both diesel and aviation fuel to N940 and N980 per litre,
respectively.
The development comes days after the refinery reduced diesel
price to N1,000 per litre.
In a statement on Tuesday, the refinery said the price
change of N940 is applicable to customers buying five million litres or more
from the refinery, while those purchasing one million litres or more will pay
N970.
According to the company, this marks the third major
reduction in diesel price “in less than three weeks when the product sold at
N1,700 to N1,200 and also a further reduction to N1,000 and now N940 for diesel
and N980 for aviation fuel per litre”.
Speaking on the new development, Anthony Chiejina, head of
communication, Dangote Group, said the new price is in tandem with the
company’s commitment to alleviating the effect of economic hardship in Nigeria.
“I can confirm to you that Dangote Petroleum Refinery has
entered a strategic partnership with MRS Oil and Gas stations, to ensure that
consumers get to buy fuel at affordable price, in all their stations be it
Lagos or Maiduguri,” he said.
“You can buy as low as 1 litre of diesel at N1,050 and
aviation fuel at N980 at all major airports where MRS operates.”
He added that the partnership will be extended to other
major oil marketers.
“The essence of this is to ensure that retail buyers do not
buy at exorbitant prices,” he said.
“The Dangote Group is committed to ensuring that Nigerians
have a better welfare and as such, we are happy to announce this new prices and
hope that it would go a long way to cushion the effect of economic challenges
in the country.”
Reacting to the latest development, Ajayi Kadiri, director-general
of the Manufacturers Association of Nigeria (MAN), said the decision “to first
crash the price from about N1,750/litre to N1,200/litre, N1,000/litre and now
N940 is an eloquent demonstration of the capacity of local industries to
positively impact the fortunes of the national economy”.
“The trickledown
effect of this singular intervention promises to change the dynamics in the
energy cost equation of the country, in the midst of inadequate and rising cost
of electricity,” Kadiri said.
He said the reduction will ease the high inflation rate in
the country, and have far-reaching impact on critical sectors like industrial
operations, transportation, logistics, and agriculture.
Kadiri added that companies will be back in operation due to
the price reduction.
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