- By Halimah Olamide
Dangote Petroleum Refinery has announced a reduction of the price of diesel from N1200 to N1,000 per litre.
In a statement on Tuesday, the refinery said it supplied diesel at a substantially reduced price of N1,200 per litre three weeks ago, representing over 30 per cent reduction from the previous market price of about N1,600 per litre.
It explained that the significant reduction in the price of diesel is expected to positively affect all the spheres of the economy and reduce the high inflation rate in the country.
The statement read in part, “In an unprecedented move, Dangote Petroleum Refinery has announced a further reduction of the price of diesel from N1200 to N1,000/litre.
“While rolling out the products, the refinery supplied at a substantially reduced price of N1,200/litre three weeks ago, representing over 30 per cent reduction from the previous market price of about N1,600/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.”