Dangote Petroleum Refinery has announced another reduction in diesel prices, lowering the cost to N1,020 per litre from the previous N1,075.
This marks the latest in a series of price cuts since the refinery began diesel production in January 2024, when the price stood at N1,700 per litre.
The price reduction is part of Dangote Refinery’s efforts to ease the financial burden on businesses and consumers. Reports indicate that the company has already absorbed over N10 billion in costs to keep fuel prices stable, particularly during the festive season.
Industry experts say Nigeria is steadily moving toward self-sufficiency in petroleum products, as major international companies now source refined fuel from the country. This shift is expected to strengthen Nigeria’s position in the global energy market.