Business
Clarification provided by Dangote Refinery regarding N940 diesel price reduction
Customers purchasing five million liters or more are eligible for Dangote Petroleum Refinery’s N940 per liter diesel price reduction, as clarified by the Head of Communication, Mr Anthony Chiejina, in a statement released on Tuesday. For those buying one million liters and above, the price remains at N970 per liter.
The recent diesel price adjustments by Dangote Refinery mark the third reduction, with rates now set at N940 and N970 per liter, respectively, following two prior cuts that brought the price down from N1,600 to N1,000 per liter.
With the company’s entry into the Automotive Gas Oil (AGO) market, Dangote Refinery has made a significant impact on the West Africa oil and gas industry since the commissioning of its 650,000 barrels per day crude oil refinery on May 22 last year. Despite this, fuel sales have not yet begun.
Standard and Poor’s Global Commodities predicts that Dangote Refinery will initiate fuel sales in the fourth quarter of 2024.
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