Dangote refinery promises petrol price stability, reduction in Nigeria
Dangote Petroleum Refinery & Petrochemicals has reiterated its commitment to maintaining stable prices for premium motor spirit (petrol), despite ongoing volatility in global crude oil markets.
The 650,000-barrels-per-day refinery made this known in a statement released on Monday by its spokesperson, Anthony Chiejiena.
This assurance comes amid a drop in crude oil prices, which have hovered between $63 and $65 per barrel, while local petrol prices have ranged from N910 to N930 per litre across the country.
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In its statement, Dangote Refinery emphasized its dedication to easing the fuel cost burden on Nigerians.
The company also referenced its alignment with the recently approved “Nigeria First Policy” by President Bola Ahmed Tinubu.
This decision reflects our unwavering commitment to supporting the Nigerian economy and alleviating the burden on consumers from the increase in fuel prices by maintaining price stability.
It underscores our dedication to providing affordable, reliable, and high-quality petroleum products without compromising operational efficiency and sustainability.
Our approach aligns with the objectives of the federal government’s Nigeria First policy, which promotes the prioritisation of locally produced goods and services.
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By refining petroleum products domestically at the world’s largest single-train refinery, we are proud to make a substantial contribution to Nigeria’s energy security, foreign exchange savings, and overall economic resilience, aligning with President Bola Tinubu’s Renewed Hope Agenda, which is focused on addressing the nation’s economic challenges and improving the well-being of Nigerians. We are immensely grateful to His Excellency, President Bola Tinubu, for making this possible through the commendable Naira-for-Crude Initiative, which has enabled us to consistently reduce the price of petroleum products for the benefit of all Nigerians.
We assure all stakeholders, consumers, partners, and the government of our continued dedication to operational excellence and national service.
Dangote Petroleum Refinery remains committed to ensuring that the benefits of our local refining capacity are fully realised and enjoyed by the Nigerian populace. We will continue to prioritise affordability, quality, and national interest in every facet of our work,” the statement reads.
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