Dangote Refinery Slashes Diesel, Aviation Fuel Prices Again

The Dangote Refinery has significantly reduced the price of diesel and aviation fuel, offering some relief to Nigerians. This comes just a week after their initial price decrease for diesel.

  • New Prices: Diesel - N940 per liter (for purchases of 5 million liters or more), N970 per liter (for purchases of 1 million liters or more); Aviation Fuel - N980 per liter.

  • Partnership for Availability: Dangote has partnered with MRS Oil and Gas stations to ensure consumers can buy diesel at N1,050 per liter and aviation fuel at N980 at major MRS-operated airports. They plan to expand this partnership to other major oil marketers.

  • National Impact Expected: The Manufacturers Association of Nigeria (MAN) applauds Dangote's move, believing it will positively impact the economy by:

    • Lowering energy costs for businesses (especially critical during rising electricity costs)
    • Stimulating sectors like transportation, logistics, and agriculture
    • Potentially easing inflation and reviving companies
  • Dangote's Commitment: The company emphasizes its commitment to Nigerians' well-being and hopes these price reductions will alleviate the economic burden.

  • Refinery Operations:

    • Production of diesel and aviation fuel began in January 2024.
    • The refinery has received crude oil shipments from major suppliers like Shell and NNPC.
    • Dangote previously commenced supplying petroleum products to the local market.

This price reduction by Dangote, along with their efforts to ensure product availability, is a welcome development for Nigerians facing economic challenges. The potential positive effects on various sectors are also noteworthy.