Dangote Refinery pledges stable ex-depot price to ensure stable pump price for national economy growth
By Jeph Ajobaju, Chief Copy Editor
Dangote Refinery has pledged stable ex-depot price of fuel – to ensure a stable pump price at filling stations – despite fluctuations in the prices of global crude, citing its consistency in price reductions in the past one year to back up its claim.
A statement issued by Dangote Group Chief Branding and Communications Officer, Anthony Chiejina, explained that the decision to maintain price stability reflects its commitment to supporting the Nigerian economy and alleviating the burden on consumers from fuel price increases.
“Our approach aligns with the objectives of the Federal Government’s Nigeria First policy, which promotes the prioritisation of locally-produced goods and services,” the statement said.
“By refining petroleum products domestically at the world’s largest single-train refinery, we are proud to make a substantial contribution to Nigeria’s energy security, foreign exchange savings, and overall economic resilience – aligning with President Bola Tinubu’s Renewed Hope Agenda, which is focused on addressing the nation’s economic challenges and improving the well-being of Nigerians.
“We are immensely grateful to His Excellency, President Bola Tinubu for making this possible through the commendable Naira-for-Crude Initiative, which has enabled us to consistently reduce the price of petroleum products for the benefit of all Nigerians.
“Dangote Petroleum Refinery remains committed to ensuring that the benefits of our local refining capacity are fully realised and enjoyed by the Nigerian populace. We will continue to prioritise affordability, quality, and national interest in every facet of our work.”
Vanguard reports that Dangote Refinery has taken delivery of 146,000 metric tonnes of crude oil from the international market, with the vessel Hercules still discharging the cargo.
Another vessel Sienna is scheduled to arrive with 125,000 metric tonnes of crude for refining.
Three vessels – Microft, STI Mighty, and PS New Orleans – have also arrived to load 10,000 metric tonnes, 44,000 metric tonnes, and 44,000 metric tonnes of jet fuel from the 650,000 barrels per day refinery for the global market.
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