In a move that could jumpstart engines and wallets across Nigeria, Dangote Petroleum Refinery has slashed diesel and aviation fuel prices again. The news comes just weeks after their initial price reduction.
Effective immediately, diesel plunges to N940 per liter, while aviation fuel dips to N980 per liter. These represent significant drops from the prices that had been squeezing businesses and airlines dry.
But there’s a catch – these deep discounts are for bulk buyers only. Those purchasing five million liters or more of diesel or one million liters or more of aviation fuel will enjoy the biggest savings. Individual consumers at gas stations might see a smaller reduction or potentially no change, depending on the retailer’s pricing strategy.
Despite the caveat, the Dangote Refinery’s move is a positive step towards making fuel more accessible in Nigeria. According to Dangote Group spokesperson, Anthony Chiejina, the intention is to ease the economic burden on Nigerians.
“The Dangote Group is committed to ensuring that Nigerians have better welfare and as such, we are happy to announce these new prices and hope that it would go a long way to cushion the effect of economic challenges in the country,” said Chiejina.
Cheaper diesel could translate to lower transportation costs for businesses, potentially leading to reduced prices for everyday goods. Airlines might also be able to adjust fuel surcharges, making air travel more affordable.
—Ezinwanne Onwuka reports for TruthNigeria from Abuja.
