Dangote Petroleum Refinery and Petrochemicals has announced a reduction in its ex-gantry loading cost for petrol from N880 to N865 per litre. The $20 billion refinery made this decision after notifying its marketers and customers of the price change on Thursday. The price cut comes as part of an ongoing effort to support local refining and ease the burden on consumers.
The adjustment follows a meeting earlier this week between officials from Dangote Refinery and the Minister of Finance, Wale Edun. The discussions revolved around the government’s commitment to the continued implementation of the naira-for-crude policy. This policy remains a crucial part of the government’s strategy to ensure long-term sustainability for local refining operations.
The naira-for-crude policy, which was temporarily suspended under the leadership of former NNPCL head Mele Kyari, was reaffirmed during the meeting. Officials highlighted that the policy is not a temporary measure but rather a significant initiative for fostering the growth of the Nigerian refining sector.
Sources close to the refinery confirmed the decision, which is expected to impact petrol pricing in the local market. As the policy continues to shape the industry, the reduction in ex-depot price reflects both the refinery’s operations and government strategy to stabilize the fuel market in Nigeria.
Source: The Sun