Dangote Petroleum Refinery has once again reduced the price of diesel, lowering it from ₦1,075 to ₦1,020 per litre.

This price adjustment aims to help customers and ease financial pressure on Nigerians during tough economic times.

Since starting diesel production in January 2024, Dangote Refinery has been cutting prices regularly. Initially, diesel was sold at ₦1,700 per litre, but the company has since reduced it multiple times.

Earlier, the price was dropped to ₦1,000, showing the refinery’s commitment to making fuel more affordable.

Similarly, the refinery has also lowered the ex-depot price of petrol, reducing it from ₦950 to ₦890 per litre. As a result, some fuel stations, like MRS, now sell petrol at ₦925 per litre.

According to Development Economist and Public Policy Analyst, Prof. Ken Ife, the refinery sacrificed over ₦10 billion to ensure that fuel prices remained stable across Nigeria during the festive season.

Speaking on national television, he explained how the now-defunct equalisation fund used to keep fuel prices uniform across the country.

However, he also pointed out that the government still owes marketers over ₦80 billion in equalisation fund payments.

Prof. Ife also noted that Dangote Refinery is helping Nigeria move away from heavy dependence on Premium Motor Spirit (PMS) by increasing petroleum exports.

He revealed that global energy companies, including Saudi Aramco, are now buying refined products from Nigeria. This positions the country as an important player in the international fuel market.

The latest price cut highlights Dangote Refinery’s growing role in making fuel more affordable and reshaping Nigeria’s energy industry.