Dangote refinery drops petrol price to N865/litre
By Jeffrey Agbo
Dangote refinery has announced a reduction in the price of its ex-gantry loading cost to N865 per litre.
The company stated this in a notice to marketers and customers on Thursday.
The new price is a reduction of N15 from N880 per litre sold by the facility on Wednesday.
Earlier, the National Publicity Secretary of the Independent Petroleum Marketers Association of Nigeria, Chinedu Ukadike, reassured the public of the price drop while commenting on the Federal Executive Council’s directive regarding the naira-for-crude agreement.
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On Wednesday, the Federal Executive Council directed the full implementation of the suspended naira-for-crude agreement with local refiners.
It said the initiative with local refineries is not a temporary measure but a “key policy directive designed to support sustainable local refining.”
The Ministry of Finance disclosed this in a statement released following a meeting on Tuesday between the Minister of Finance, Wale Edun, and representatives from Dangote refinery, a major beneficiary of the agreement, to review progress and address ongoing implementation matters.
The committee said the policy is not temporary but a long-term plan to cut Nigeria’s dependence on foreign exchange for petroleum.
It added that the initiative is not a temporary or time-bound intervention but a key policy directive designed to support sustainable local refining and bolster energy security.
