Dangote Reduces Price Of Aviation Fuel, Diesel N980, N940, Respectively
DIESEL and aviation fuel prices have once again been announced to be dropping to N940 and N980 per litre, respectively, by Dangote Petroleum Refinery.
This comes just after its much-lauded price cut to N1,000 just two weeks prior.
The refinery will modify prices to N940 for customers who purchase five million liters or more. On the other hand, N970 will be the price available to those who purchase one million litres or more.
The company's commitment to mitigating the effects of economic issues in Nigeria is reflected in the new pricing plan, as Anthony Chiejina, Head of Communication, clarified in response to the current development.
“I can confirm to you that Dangote Petroleum Refinery has entered a strategic partnership with MRS Oil and Gas stations, to ensure that consumers get to buy fuel at affordable prices, in all their stations be it Lagos or Maiduguri.
“You can buy as low as 1 litre of diesel at N1,050 and aviation fuel at N980 at all major airports where MRS operates,” he stated.
He added that additional significant oil marketers would be included in the cooperation.
“The essence of this is to ensure that retail buyers do not buy at exorbitant prices.
“The Dangote Group is committed to ensuring that Nigerians have better welfare and as such, we are happy to announce these new prices and hope that it would go a long way to cushion the effect of economic challenges in the country,” he added.
Recall that just two weeks ago, the Dangote Petroleum Refinery's management announced a further drop in the price of diesel, from 1,200 to 1,000 Naira a liter.
The price of diesel has dropped significantly three times in less than three weeks, from N1,700 to N1,200, then to N1,000, and now to N940 for diesel and N980 for aviation fuel per litre.
Additionally, President Bola Tinubu praised Dangote for the initial price drop, calling it an entrepreneurial achievement.
The Manufacturers Association of Nigeria's (MAN) Director General, Ajayi Kadiri, responded to the most recent development by saying: “The decision of Dangote Refinery to first crash the price from about N1,750 per litre to N1,200 per litre, N1,000 per 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, amid 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.”
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