Following concerns by oil marketers and concerned Nigerian citizens, Dangote Petroleum Refinery has announced a reduction of the price of diesel from 1200 to 1,000 naira per litre.
While rolling out the products, the refinery supplied at a substantially reduced price of N1,200 per litre three weeks ago, representing over 30 percent reduction from the previous market price of about N1,600 per litre.
This significant reduction in the price of diesel, at Dangote Petroleum Refinery, is expected to positively affect all the spheres of the economy and ultimately reduce the high inflation rate in the country.
Recall that oil marketers recently called for a downward review in the price of diesel being produced by the Dangote Petroleum Refinery as the operators engaged managers of the refinery next week.
The Independent Petroleum Marketers Association of Nigeria (IPMAN) made the call in a press interview where it asserted that the N1,225/litre diesel price from an indigenous refinery is too high because the commodity was produced in Nigeria and not imported.
Similarly, the Petroleum Products Retail Outlets Owners Association of Nigeria also called for a reduction in the price of Dangote diesel.
The downward review in diesel cost by Dangote refinery is expected to have a ripple effect on the retail price of the product nationwide.
