Dangote Refinery has reduced fuel price in Nigeria.
Newsone Nigeria reports that Dangote Petroleum Refinery has reduced its ex-depot price of Premium Motor Spirit for the second time in two weeks.
The 650,000-barrel-per-day Dangote Refinery slashed its fuel price to N820 per litre from N840 per litre, effective immediately.
This online news platform recalls that the company last week reduced its ex-depot price from N880 to N840 per litre.
With assurance of a steady supply of petroleum products, more independent marketers have joined the growing list of distributors retailing Dangote Refinery’s high-quality petroleum products across the country.
Dangote Group’s spokesperson, Mr. Anthony Chiejina, confirmed the price adjustment in Lagos, stating: “PMS price has been reduced from N840 to N820 per litre effective immediately.
The previous reduction to N840 per litre had followed global crude oil market volatility, particularly during the 12-day geopolitical crisis in the middle east, which pushed up crude oil prices.
The refinery’s existing partners—MRS, Heyden, Ardova (AP), Hyde, Optima, and Techno Oil—are expected to reflect the new pricing at their retail outlets.
Additionally, several new marketing companies have joined Dangote’s distribution network. These include TotalEnergies, Garima Petroleum, Sunbeth Energies, Sobaz Nigeria Ltd., Virgin Forest Energy, Sixxco Oil Ltd., N.U. Synergy Ltd., and Soroman Nigeria Ltd. Others on the growing list are Jezco Oil Nigeria Ltd., Jengre, Cocean, Kifayat, Triumph Golden, Sifem Global, Riquest, and Mamu Oil, among others.
The Dangote Refinery, the largest single-train refinery in the world, continues to expand its domestic fuel distribution footprint, offering competitive pricing and improving access to refined products across Nigeria.
The refinery, recently, announced that it has invested over N720 billion to implement its initiative of deploying 4,000 Compressed Natural Gas-powered trucks for the nationwide distribution of petroleum products, saying it is expected to save Nigerians over N1.7 trillion annually.
This step, the management, will see the refinery absorb over N1.07 trillion annually in fuel distribution costs. The initiative is also poised to significantly benefit over 42 million Micro, Small and Medium Enterprises (MSMEs) by reducing energy costs and enhancing profitability, the mega refinery said.
The initiative, which eliminates transportation costs for fuel marketers and large-scale consumers, is expected to help reduce pump prices and inflation.
From August 15, Dangote will begin the direct delivery of petrol and diesel to filling stations, industrial facilities, and other high-volume consumers, the company said earlier
