Dangote Group Slashes Fuel Pump Price to N739 Amid Cost Reduction Efforts

Dangote Group has declared a new fuel pump price of N739 per liter at its filling stations, marking a significant decrease from the previous N970 price. This decision comes after the company's recent reduction in ex-depot prices to N828.

The move is seen as an effort to pass on cost savings to consumers. Dangote's announcement follows criticism of high pump prices despite lower ex-depot rates.

The company aims to implement the new pricing regime across its partner outlets, including Mr Oil Plc, Ardova, Conoil Plc, and Eterna Plc. Dangote also emphasized its commitment to open sales in the independent market, including to members of IPMAN.

The Nigerian National Petroleum Corporation (NNPC) has faced scrutiny for alleged harmful import practices that impact local refinery investments.