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Diesel,aviation fuel rates are slashed by Dangote to N940 and N980, respectively

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Diesel,aviation fuel rates are slashed by Dangote to N940 and N980, respectively

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A further drop in diesel rates to N940 per litre and an increase in aviation fuel prices to N980 per litre were announced on Tuesday by Dangote Petroleum Refinery.

This follows the much-lauded price cut to N1,000 by just two weeks.

Customers purchasing five million litres or more from the refinery will be subject to the new pricing of N940, while customers purchasing one million litres or more would be subject to the new price of N970.

Speaking on the new development, Mr Anthony Chiejina, Head of Communication, noted that the new price is in line with the company’s desire to help alleviate the impact of the Nigerian economic difficulties.

I can assure you that MRS Oil & Petrol outlets in both Lagos and Maiduguri have formed a strategic alliance with Dangote Petroleum Refinery to provide customers with affordable fuel. At all major airports where MRS operates, you may purchase aviation fuel for N980 and diesel for N1,050 per litre.

Other large oil marketers will also be invited to join the cooperation, he said. The point is that regular people shouldn’t pay astronomical amounts for goods.

The Dangote Group is pleased to announce these new rates and hopes they will help Nigerians weather the economic storm. We are dedicated to improving the lives of Nigerians and this announcement reflects that.

Not long ago, just two weeks ago, the management of Dangote Petroleum Refinery announced a further lowering of diesel prices, this time from 1,200 to 1,000 Naira per litre.

Diesel prices have dropped for the third time in as many weeks, going from N1,700 to N1,200, then to N1,000, and finally to N940 per litre, with aviation fuel priced at N980 per litre.

The first price cut was praised by Dangote by President Bola Tinubu, who called it a “enterprising feat.”

According to Mr. Ajayi Kadiri, Director General of the Manufacturers Association of Nigeria, who spoke out regarding the latest development, “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.”

In addition, he mentioned that the inadequate and increasing cost of electricity will be affected by the trickle-down effect of this single initiative, which he predicted will alter the country’s energy cost equation.

“Many businesses will be able to get back up and running thanks to the cut, which will have far-reaching implications in vital areas like transportation, logistics, agricultural, and industrial activities, helping to bring down the country’s high inflation rate.”