Dangote Petroleum Refinery has announced further reduction of the price of diesel from N1200 to N1,000 naira per litre.
While rolling out production three weeks ago, the refinery started out with N1,200 per litre market price N1,700 per litre.
The coming on stream of the Dangote Refinery is expected to cut in half the importation of finished petroleum products, thereby easing the pressure on the nation’s currency and foreign reserve.
Aliko Dangote, owner of the Lekki Lagos based refinery, had hinted that in due time prices of petroleum products will drop.
“I believe that we are on the right track. I believe Nigerians have been patient and I also believe that a lot of goodies will now come through.
” There’s quite a lot of improvement because if you look at it, one of the major issues that we’ve had was the naira devaluation that has gone very aggressively up to about ₦1,900,” he had said.
