Dangote's Entrance into Diesel Market Spurs Nationwide Price Fall

Aliko Dangote
Aliko DangoteTwitter

In a significant development for Nigeria's energy sector, Dangote Petroleum Refinery has commenced the sale of diesel at a reduced rate of N1,225 per liter, marking a notable drop in prices across the country. This move follows recent fluctuations in fuel prices, with diesel now available at approximately N1,350 per liter in certain regions, down from the previous N1,700 per liter.

Officials from the refinery disclosed that diesel was sold to retailers at prices ranging from N1,225 to N1,300 per liter, depending on the quantity purchased. Moreover, Dangote Refinery has announced plans to begin supplying petrol to the local market starting May this year.

According to statements from industry insiders, the refinery has already commenced diesel distribution to marketers, with assurances of forthcoming availability of aviation fuel. Notably, the Independent Petroleum Marketers Association of Nigeria (IPMAN) confirmed the initiation of diesel sales by Dangote Refinery, with a minimum volume requirement of one million liters per marketer.

Abubakar Maigandi, the National President of IPMAN, expressed optimism about the potential for further reduction in diesel prices due to the increased supply from the refinery. Dr. Ralph Arokoyo, CEO of AF Ralph Oil and Gas Ventures, corroborated this sentiment, highlighting the positive impact on fuel pricing nationwide.

The introduction of diesel from Dangote Refinery has already prompted a drop in prices, with some stations offering diesel at rates as low as N1,350 per liter. With the prospect of petrol availability on the horizon, stakeholders anticipate continued stabilization of fuel prices in the coming weeks.

As Nigerians eagerly await the rollout of petrol distribution by Dangote Refinery, the announcement signals a potential shift in the country's fuel landscape, offering hope for improved accessibility and affordability for consumers nationwide.

Related Stories

No stories found.
logo
Latest Lagos Local News - Lagoslocalnews.com
www.lagoslocalnews.com