NewsNigeriaOil & GasDangote Refinery Cuts Diesel, Jet Fuel Prices Again 

In a move expected to bring relief to businesses and travellers, Dangote Petroleum Refinery has announced another significant reduction in the prices of diesel and aviation fuel.

Effective immediately, diesel will be sold at N940 per litre, while aviation fuel will cost N980 per litre.

This comes just two weeks after the refinery’s initial price reduction, which brought down the price of diesel from N1,650 to N1,200 per litre and a further reduction to N1,000 per litre a week ago.

The latest reductions mark a substantial drop from the previously high prices that had been straining businesses and airlines in Nigeria.

According to a statement from the refinery, the new pricing structure is tiered. The discounted prices of N940 and N980 apply to bulk purchases of five million litres or more for diesel and one million litres or more for aviation fuel. Individual customers buying smaller quantities at gas stations may see a smaller reduction or potentially no change depending on the retailer.

Dangote Group spokesperson, Anthony Chiejina, explained the move as a reflection of the company’s commitment to alleviating the economic hardship faced by 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.

The lower fuel prices are expected to have a ripple effect, reducing transportation costs for businesses and potentially bringing down the prices of goods and services. Airlines may also be able to adjust their fuel surcharges, making air travel more affordable