See more as Dangote slashes petrol price, filling stations to adjust pumps

• The Dangote Refinery has erstwhile again reduced its petrol terms the petrol terms astatine its loading gantry
• The simplification is coming little than 24 hours, it was announced that the naira crude statement volition present resume
• Anthony Chiejina, the Chief Branding and Communications Officer for Dangote Group, confirmed the caller terms successful a chat with Legit.ng

Legit.ng writer Dave Ibemere has implicit a decennary of concern journalism acquisition with in-depth cognition of the Nigerian economy, stocks, and wide marketplace trends

Dangote Petroleum Refinery and Petrochemicals has announced the simplification of its ex-depot (gantry) loading outgo of petrol to N865 per litre.

The caller terms is simply a simplification of N15 from N880 per litre sold by the installation connected Wednesday, April 9, 2024.

Dangote denote caller petrol price Photo credit: Bloomberg/contributor
Source: Getty Images

Anthony Chiejina, the Chief Branding and Communications Officer for Dangote Group, told Legit.ng that the caller terms kicked disconnected connected Thursday, April 10.

"Yes, we person reduced the ex-depot terms to N865 per litre"

Dangote's caller petrol price

Punch reports that the Dangote refinery informed its customers successful a announcement sent retired connected Thursday morning.

The caller terms is present expected to pb to changes successful pump prices astatine assorted filling stations particularly those with peculiar agreements with the Dangote Refinery.

MRS Oil & Gas, Ardova Plc, Heyden and Optima Energy are the 4 lipid companies with narration with Dangote refinery.

Newstelegraph reports that the 4 Dangot partners filling stations are expected to trim their pump terms to astir N910 to bespeak the caller simplification successful the ex-depot terms of the premium commodity.

Why Dangote petrol terms reduced?

The terms simplification by the backstage refinery followed a gathering betwixt representatives of the Dangote Refinery and the Minister of Finance and Cordinating Minister of Economy, Wale Edun, connected Tuesday.

At the extremity of the meeting, the authorities said that the naira-for-crude was inactive successful effect and that the inaugural was not a impermanent measurement but a “key argumentation directive designed to enactment sustainable section refining”.

The authorities besides said the inaugural is inactive successful effect and volition proceed immediately, overruling the determination of the NNPCL nether its erstwhile boss, Mele Kyari, which tenured the initiative.

Part of the announcement shared connected X reads:

"The Technical Sub-Committee connected the Crude and Refined Product Sales successful Naira inaugural convened an update gathering connected Tuesday to reappraisal advancement and code ongoing implementation matters."The stakeholders reaffirmed the government’s continued committedness to the afloat implementation of this strategical initiative, arsenic directed by the Federal Executive Council (FEC). "As with immoderate large argumentation shift, the Committee acknowledges that implementation challenges whitethorn originate from clip to time. However, specified issues are being actively addressed done coordinated efforts among each parties. The inaugural remains successful effect and volition proceed for arsenic agelong arsenic it aligns with the nationalist involvement and supports nationalist economical objectives.

Refiners accidental N350 per litre substance terms possible

Legit.ng previously reported that the Crude Oil Refinery Owners Association of Nigeria (CORAN) has said that petrol could autumn to arsenic low arsenic N350 per litre astatine filling stations.

According to CORAN, with crude prices declining sharply, determination is nary crushed Nigerians should proceed to wage arsenic precocious arsenic N900 per litre for petrol.

Eche Idoko, Publicity Secretary of CORAN, explained that the cardinal to achieving a little petrol terms successful Nigeria depends heavy connected the naira-for-crude initiative.

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Source: Legit.ng