The company announced a significant reduction in the price of diesel on Tuesday, April 16, 2024.
This move comes after the refinery initially rolled out its products at a reduced price of N1,200 per litre three weeks ago, marking a notable 30% decrease from the previous market price of about N1,600 per litre.
Dangote Petroleum Refinery sees this reduction as having a positive impact across various sectors of the economy and aims to make contribution to lowering the country’s high inflation rate.
In January, the refinery commenced production of diesel and aviation fuel. It received six million barrels of crude oil at its two Single Point Mooring (SPM) facilities located 25 kilometres from the shore. The first crude delivery occurred on December 12, 2023, with subsequent deliveries until January 8.
The initial cargo received at the plant originated from the Agbami crude grade, supplied by Shell International Trading and Shipping Company Limited (STASCO), one of Nigeria’s and the world’s largest trading companies, handling over 8 million barrels of crude oil daily.
Furthermore, the refinery moved closer to producing refined petroleum products with the receipt of an additional one million barrels of Bonny Light crude supplied by the Nigeria National Petroleum Company (NNPC Ltd).