Dangote Petroleum Refinery and Petrochemicals has reduced the price of its diesel product to ₦1,020 per litre, down from ₦1,075 per litre at the gantry price.
In a statement, the $20 billion company explained that this price reduction is part of its ongoing efforts to better serve both its customers and Nigerians as a whole.
“Since it began diesel production in January 2024, the refinery has cut diesel prices more than three times, from an initial ₦1,700 per litre to the current rate, offering much-needed relief to manufacturers and consumers alike,” the company said.
In addition, the private refinery recently lowered its ex-depot price for petrol from ₦950 per litre to ₦890, citing “market realities” as the driving force behind the adjustment.
Nigeria, Africa’s most populous nation, continues to face significant energy challenges. All state-owned refineries had been non-operational for decades until 2024, leaving the country heavily reliant on imported refined petroleum products, primarily supplied by the state-run NNPC.
This dependency has led to frequent fuel queues and soaring prices. Since the removal of the petrol subsidy in May 2023, the price of petrol has more than quadrupled, rising from around ₦200 per litre to over ₦1,000 per litre, exacerbating the struggles of citizens who rely on petrol for vehicles and generators due to the country’s chronic electricity shortages.
In December 2023, Aliko Dangote, Africa’s leading industrialist, officially launched operations at his refinery in Lagos, which initially has a capacity of 350,000 barrels per day. The refinery, which faced initial regulatory challenges, aims to reach its full capacity of 650,000 barrels per day by the end of the year. It has already begun supplying diesel, aviation fuel, and petrol to marketers across Nigeria.
Meanwhile, in 2024, the NNPCL reported that the Port Harcourt and Warri refineries are back online, with petrol loading operations now resuming at those facilities.
