In a groundbreaking move, Dangote Petroleum Refinery has announced a further reduction in the price of diesel from ₦1200 to ₦1,000 per litre.
The refinery had previously introduced the product at a significantly reduced price of ₦1,200 per litre three weeks ago, marking a reduction of over 30 per cent from the previous market price of about ₦1,600 per litre.
This substantial decrease in diesel prices at Dangote Petroleum Refinery is anticipated to have a positive impact on all sectors of the economy and ultimately contribute to reducing the high inflation rate in the country.
Last week, Africa’s wealthiest individual and the refinery’s proprietor, Aliko Dangote, expressed confidence that Nigerians would see a decline in inflation following the reduction in diesel pump prices.
“I believe that we are on the right track. I believe Nigerians have been patient, and I also believe that a lot of benefits will now materialize. There’s been significant improvement because if you look at it, one of the major issues that we’ve had was the naira devaluation that has escalated significantly up to about ₦1,900,” he remarked.
