Dangote Cuts Petrol Price by N25/Liter in Nigeria to Provide Relief

Dangote Petroleum Refinery, led by Aliko Dangote, has announced a reduction in petrol prices by N25 per liter, lowering the ex-depot rate from N799 to N774 per liter. The price adjustment, effective immediately nationwide, aims to alleviate the burden on consumers.

This decision comes after the refinery had raised petrol prices to N839 per liter during the festive period, which has now been reduced to N774 per liter. The move is expected to ease the financial strain on consumers, especially at filling stations where petrol is currently being sold at N839 per liter.

Notably, Dangote's refinery, in partnership with the Nigerian National Petroleum Corporation (NNPC), sells petrol at N840 per liter in Abuja and N875 per liter at its retail outlets. The Depot and Petroleum Products Marketers Association of Nigeria (DAPPMA) has acknowledged the challenges in the fuel market, with its Executive Secretary, Olufemi Adewole, emphasizing the need for continued fuel imports to sustain operations.