The Dangote Group is committed to ensuring that Nigerians have a better welfare and as such, we are happy to announce this new prices and hope that it would go a long way to cushion the effect of economic challenges in the country,” he added.
It would be recalled that the management of Dangote Petroleum Refinery announced a further reduction of the price of diesel from 1200 to 1,000 Naira per litre barely two weeks ago.
This marks the third major reduction in diesel price in less than three weeks when the product sold at N1,700 to N1,200 and a further reduction to N1,000 and now N940 for diesel and N980 for aviation fuel per litre.
President Bola Tinubu had also commended Dangote for the initial price reduction, describing it as an “enterprising feat.”
Reacting to the latest development, The Director General of the Manufacturers Association of Nigeria (MAN), Mr Ajayi Kadiri, said: “The decision of Dangote Refinery to first crash the price from about N1,750/litre to N1,200/litre, N1,000/litre and now N940 is an eloquent demonstration of the capacity of local industries to positively impact the fortunes of the national economy.”
He added: “The trickle down effect of this singular intervention promises to change the dynamics in the energy cost equation of the country, in the midst of inadequate and rising cost of electricity.
“The reduction will have far-reaching effects in critical sectors like industrial operations, transportation, logistics, and agriculture, contributing to easing the high inflation rate in the country; a lot of companies will be back in operation.”
“Well done!”