NewStats: 3,261,294 , 8,173,637 topics. Date: Wednesday, 28 May 2025 at 07:13 PM 3l3r45

Barely three weeks after announcing an increase in the cost of loading Motor Spirit, commonly known as petrol, the Dangote Petroleum Refinery has made a surprising move by reducing its ex-depot (gantry) price of petrol, lowering it from N950 to N890 per litre.

In a statement signed by Group Chief Branding and Communications Officer, Anthony Chiejina on Saturday night, the refinery said this strategic adjustment is a direct response to the positive outlook within the global energy and gas markets, as well as the recent reduction in international crude oil prices.

This change takes immediate effect from Saturday, 1st February 2025.

It noted that the price revision reflects the ongoing fluctuations in global crude oil markets. Brent crude, the international benchmark, was traded at $77.48 per barrel on Friday, marking a reduction of $4 from $81 per barrel recorded in early January.


The statement read in part, “Dangote Petroleum Refinery has reduced the ex-depot (gantry) price of Motor Spirit, commonly known as petrol, from N950 to N890, effective from Saturday, 1st February 2025.

“This strategic adjustment is a direct response to the positive outlook within the global energy and gas markets, as well as the recent reduction in international crude oil prices.


“As part of Dangote Refinery’s unwavering commitment to transparency and fairness, this price revision reflects the ongoing fluctuations in global crude oil markets, as highlighted in the refinery’s statement on 19th January, when a modest increase was implemented due to the previously rising international crude oil prices.”


The refinery also expressed its assurance that the reduction will result in a meaningful decrease in the cost of petrol nationwide, thereby driving down the prices of goods and services, as well as the overall cost of living.

It further called on marketers to collaborate in this effort, to ensure that these benefits are ed on to the Nigerian populace.

The statement added, “Dangote Petroleum Refinery firmly believes that this reduction from N950 to N890 will result in a meaningful decrease in the cost of petrol nationwide, thereby driving down the prices of goods and services, as well as the overall cost of living, with a positive ripple effect on various sectors of the economy.

“In addition, Dangote Petroleum Refinery calls upon marketers to collaborate in this effort, to ensure that these benefits are ed on to the Nigerian populace.

“This collective initiative will contribute to the wider economic recovery plan led by His Excellency, President Bola Ahmed Tinubu, who is dedicated to making Nigeria self-sufficient in refined petroleum products and positioning the country as a leading oil export hub,” the statement concluded.


Source

https://punchng.com/breaking-dangote-slashes-petrol-loading-cost-to-n890-per-litre/?amp

The fear of importation of refined products is making this monopolists have a rethink

tunwumi:
Barely three weeks after announcing an increase in the cost of loading Motor Spirit, commonly known as petrol, the Dangote Petroleum Refinery has made a surprising move by reducing its ex-depot (gantry) price of petrol, lowering it from N950 to N890 per litre.

In a statement signed by Group Chief Branding and Communications Officer, Anthony Chiejina on Saturday night, the refinery said this strategic adjustment is a direct response to the positive outlook within the global energy and gas markets, as well as the recent reduction in international crude oil prices.

This change takes immediate effect from Saturday, 1st February 2025.

It noted that the price revision reflects the ongoing fluctuations in global crude oil markets. Brent crude, the international benchmark, was traded at $77.48 per barrel on Friday, marking a reduction of $4 from $81 per barrel recorded in early January.


The statement read in part, “Dangote Petroleum Refinery has reduced the ex-depot (gantry) price of Motor Spirit, commonly known as petrol, from N950 to N890, effective from Saturday, 1st February 2025.

“This strategic adjustment is a direct response to the positive outlook within the global energy and gas markets, as well as the recent reduction in international crude oil prices.


“As part of Dangote Refinery’s unwavering commitment to transparency and fairness, this price revision reflects the ongoing fluctuations in global crude oil markets, as highlighted in the refinery’s statement on 19th January, when a modest increase was implemented due to the previously rising international crude oil prices.”


The refinery also expressed its assurance that the reduction will result in a meaningful decrease in the cost of petrol nationwide, thereby driving down the prices of goods and services, as well as the overall cost of living.

It further called on marketers to collaborate in this effort, to ensure that these benefits are ed on to the Nigerian populace.

The statement added, “Dangote Petroleum Refinery firmly believes that this reduction from N950 to N890 will result in a meaningful decrease in the cost of petrol nationwide, thereby driving down the prices of goods and services, as well as the overall cost of living, with a positive ripple effect on various sectors of the economy.

“In addition, Dangote Petroleum Refinery calls upon marketers to collaborate in this effort, to ensure that these benefits are ed on to the Nigerian populace.

“This collective initiative will contribute to the wider economic recovery plan led by His Excellency, President Bola Ahmed Tinubu, who is dedicated to making Nigeria self-sufficient in refined petroleum products and positioning the country as a leading oil export hub,” the statement concluded.


Source

https://punchng.com/breaking-dangote-slashes-petrol-loading-cost-to-n890-per-litre/?amp

Dangote fuel isn't suppose to be more than N200 per litre in the Nigerian market..

The man is also one of the problems of Nigeria and Nigerians. !!

890 is slash? Is it 890 Kobo?

APC and grammar.

Floky215:


Dangote fuel isn't suppose to be more than N200 per litre in the Nigerian market..

The man is also one of the problems of Nigeria and Nigerians. !!

What has stopped you father or your family building a refinery no matter how small.Then be sharing the fuel even if na only your village people for free.Dont go look for how to make money and add value to others. He buys the crude at international price to refine and not given to him free.

immortalcrown:
890 is slash? Is it 890 Kobo?

APC and grammar.

Dangote isn't APC nor under APC control. It isnt every news you can use for politics. Here is one of such news. Deregulation means factors of production in addition to competing selling prices work together to determines price from Major sellers like Dangote.

CRIMINALS

Floky215:


Dangote fuel isn't suppose to be more than N200 per litre in the Nigerian market..

The man is also one of the problems of Nigeria and Nigerians. !!

You want NNPC and Marketers to assasinate him
Ol boy, allow the man to make his money, it is not his fault.

Streetinvestor2:
What has stopped you father or your family building a refinery no matter how small.Then be sharing the fuel even if na only your village people for free.Dont go look for how to make money and add value to others. He buys the crude at international price to refine and not given to him free.

Isn't this too harsh?

Floky215:


Dangote fuel isn't suppose to be more than N200 per litre in the Nigerian market..

The man is also one of the problems of Nigeria and Nigerians. !!

You are blaming Dnagote for Tinubus problem?

Floky215:


Dangote fuel isn't suppose to be more than N200 per litre in the Nigerian market..

The man is also one of the problems of Nigeria and Nigerians. !!

This comment shows many of you guys here don't have sense

More like will crush the market to make it go away

tunwumi:
The fear of importation of refined products is making this monopolists have a rethink

LibertyRep:


Isn't this too harsh?

No, it isn't.

Tell me another news abeg

https://nairaland.unblockandhide.com/8332324/dangote-refinery-reduces-ex-depot-petrol