ASHENEWS reports that the Dangote Refinery has crashed the price of diesel from the previous market price of about N1,200 to N1,000 per litre.
The company made the announcement in a terse statement made available to this platform on mid night Tuesday night.
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According to the statement, three weeks ago, the refinery supplied at a substantially reduced price of N1,200 per litre, representing over 30 per cent reduction from the previous market price of about N1,600 per litre.
“In an unprecedented move, Dangote Petroleum Refinery has announced a further reduction of the price of diesel from N1,200 to 1,000 naira per litre.
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“While rolling out the products, the refinery supplied 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,” the statement reads.
The company opined that the price reduction would positively affect all the spheres of the economy and ultimately reduce the high inflation rate in the country.
“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.”
About Dangote Petroleum Refinery
Dangote Oil Refinery is a 650,000 barrels per day (BPD) integrated refinery project under construction in the Lekki Free Zone near Lagos, Nigeria.
It is expected to be Africa’s biggest oil refinery and the world’s biggest single-train facility.\
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The pipeline infrastructure at the Dangote Petroleum Refinery is the largest anywhere in the world, with 1,100 kilometers to handle three billion Standard Cubic Foot of gas per day.
The Refinery alone has a 435MW Power Plant that can meet the total power requirement of Ibadan DisCo.
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The Refinery will meet 100% of the Nigerian requirement of all refined products and also have a surplus of each of these products for export.
Dangote Petroleum Refinery is a multi-billion dollar project that will create a market for $21 Billion per annum of Nigerian Crude. It is designed to process Nigerian crude with the ability to also process other crudes.
