The Dangote Petroleum Refinery has further reduced the price of diesel from ₦1,075 to ₦1,020 per litre, marking another price drop since it commenced production in January 2024.
In a statement, the $20 billion facility said the reduction aligns with its commitment to easing the burden on consumers and businesses.
“Since the start of diesel production, we have lowered prices multiple times, from an initial ₦1,700 per litre to the current rate, providing much-needed relief to manufacturers and consumers,” the company stated.
The refinery also recently adjusted its ex-depot price for petrol, bringing it down from ₦950 to ₦890 per litre in response to market dynamics.
Nigeria, Africa’s largest economy, has long struggled with fuel shortages due to non-functional state-owned refineries. Until 2024, the country relied almost entirely on imports, with the Nigerian National Petroleum Company Limited (NNPCL) as the main supplier. The removal of petrol subsidies in May 2023 saw pump prices surge from around ₦200 per litre to over ₦1,000, worsening economic hardship for many Nigerians who rely on petrol for transportation and power generation.
Dangote’s Lagos-based refinery, which began operations in December 2023 with an initial capacity of 350,000 barrels per day, plans to reach full capacity of 650,000 barrels per day before the end of 2024. The facility has already begun supplying diesel, aviation fuel, and now petrol to the local market.
Similarly, the NNPCL announced that the Port Harcourt and Warri refineries have resumed operations, with petrol loading now in progress.
