LIVE UPDATES
The Dangote Petroleum Refinery has announced that the naira-for-crude arrangement enabled it to lower petrol prices, resulting in reduced costs at filling stations.
The company also confirmed that petrol prices will remain both affordable and stable.
In a statement released on Monday, they noted that despite global crude oil price variations, they have continuously decreased petrol prices.
The Group Chief Branding and Communications Officer, Anthony Chiejina, emphasized that the choice to maintain price stability demonstrates their steadfast commitment to supporting the Nigerian economy and easing the burden on consumers caused by rising fuel prices.
“We express our deep gratitude to President Bola Tinubu for facilitating this through the commendable naira-for-crude initiative, which has allowed us to consistently lower petroleum product prices for the benefit of all Nigerians,” the statement read.
Furthermore, Dangote indicated that their decision to uphold price stability amid crude price fluctuations highlights their commitment to delivering affordable, reliable, and high-quality petroleum products while ensuring operational efficiency and sustainability.
“Our strategy is in line with the Federal Government’s ‘Nigeria First Policy’, which emphasizes the importance of prioritizing locally-produced goods and services.
By refining petroleum products domestically at the world’s largest single-train refinery, we are proud to significantly enhance Nigeria’s energy security, save foreign exchange, and contribute to overall economic resilience aligning with President Bola Tinubu’s Renewed Hope Agenda focused on tackling the nation’s economic challenges and improving the well-being of Nigerians,” the Monday statement indicated.
The company reassures all stakeholders consumers, partners, and the government—of its ongoing commitment to operational excellence and national service. “Dangote Petroleum Refinery remains dedicated to ensuring that the benefits of our local refining capacity are fully realized and enjoyed by the Nigerian populace.
We will continue to prioritize affordability, quality, and the national interest in every aspect of our operations,” the statement concluded.
