visit to President Bola Tinubu
President Bola Tinubu has hailed Dangote Oil and Gas Limited for reducing the price of Automotive Gas Oil (AGO) known as diesel.
Dangote recently reduced the price of diesel from N1,650 to N1,000 per litre for a minimum of one million litres of the product.
The Group also provided a discount of N30 per litre for an offtake of five million litres of diesel and above.
The price review represents a 60 percent drop, which will, in no small measure, impact the prices of sundry goods and services.
The President in a statement signed by spokesman, Ajuri Ngelale, affirmed that Nigerians and domestic businesses are the nation’s surest transport and security to that glorious destiny of economic prosperity.
Tinubu also noted the federal government’s 20 percent stake in Dangote Refinery and why such partnerships between public and private entities are essential to advancing the overall well-being of the country.
“The President calls on Nigerians and businesses to, at this time, put the nation in priority gear while assuring them of a conducive, safe, and secure environment to thrive,” Ngelale said.
In a groundbreaking development for consumers across Nigeria, Dangote Petroleum Refinery recently made a historic announcement by further reducing the price of diesel from ₦1,200 to ₦1,000 per litre.
This move comes in the wake of the refinery’s recent introduction of diesel at a remarkably discounted rate of ₦1,200 per litre just three weeks ago.
This reduction represents a substantial decrease of over 30 per cent from the prevailing market price, which hovered around ₦1,600 per litre.
The significant reduction in diesel prices is poised to have far-reaching effects, and has the potential to alleviate the burden of high inflation rates currently plaguing the nation, Dangote limited said on Tueday.
“The decision to lower diesel prices underscores Dangote Petroleum Refinery’s dedication to fostering economic growth and affordability for Nigerians.
“By providing access to essential fuels at more affordable rates, the refinery aims to stimulate various industries, facilitate smoother transportation logistics, and ultimately contribute to overall economic stability.
“This move is expected to bring relief to consumers and businesses alike, offering a ray of hope amidst economic challenges.
“With the reduction in diesel prices, Nigerians can anticipate a positive ripple effect across diverse sectors, from agriculture to manufacturing and beyond.”
