On Tuesday, the Dangote refinery declared that the price of a litre of fuel would drop from N1,200 to N1,000. The company said in a statement on Tuesday that it anticipates that the substantial drop in diesel prices would have a favourable impact on every aspect of the economy and eventually lower the nation’s high rate of inflation. “
Dangote Petroleum Refinery has announced a further reduction in the price of diesel from 1200 to 1,000 naira per litre, an unusual step. clever-overlaycloseLogo “Three weeks ago, the refinery provided at a significantly discounted price of N1,200 per litre during the product rollout, which represented a reduction of over 30% from the prior market pricing of approximately N1,600 per litre.
According to the corporation, the substantial drop in diesel prices at the Dangote Petroleum Refinery is anticipated to have a favourable impact on every aspect of the economy and eventually lower the nation’s high rate of inflation. The Dangote Petroleum Refinery had started producing aviation fuel and diesel earlier in January. Six million barrels of crude oil were delivered to the refinery at its two SPMs, which are situated 25 km offshore, the business stated in a statement announcing the start of operations. On December 12, 2023, the first delivery of crude oil was made, and on January 8, 2023, the sixth shipment was delivered.
One of the biggest trading businesses in Nigeria and the world, Shell International Trading and Shipping Company Limited (STASCO), sent over 8 million barrels of crude oil each day, and this was the first shipment to arrive at the factory. It was Agbami crude grade. With the delivery of an extra million barrels of bright light crude from the Nigeria National Petroleum Company (NNPC Ltd.), the company took a step closer to starting the manufacturing of refined petroleum products.
The second shipment to be transported to the Dangote facility is a fresh one million barrels of crude from the Shell terminal via the Trafigural-owned MT Otis. The world’s largest single-train refinery is anticipating six million barrels of crude in total. The company started supplying petroleum products to the local market earlier in the month.