Petrol Price Reimagined! Dangote Refinery Breaks Silence With Bold New Rate

Dangote Refinery Slashes Petrol Price to ₦865 per Litre Amid Policy Shift....KINDLY READ THE FULL STORY HERE▶

Dangote Refinery has reduced the pump price of petrol to ₦865 per litre, a ₦15 drop from the previous ₦880 per litre it was selling on Wednesday.

According to The Punch, the price change was communicated to customers through a notice sent out on Thursday morning, a development also confirmed by petroleumprice.ng. This adjustment comes on the heels of the suspension of the Naira-for-Crude oil exchange deal between the refinery and the federal government.

Oil marketers, including MRS, have already started lifting products from the refinery, which boasts a massive 650,000 barrels-per-day production capacity.

Interestingly, the price cut was announced shortly after the Technical Sub-Committee overseeing the Crude and Refined Product Sales in Naira initiative reaffirmed the continuation of the federal government’s crude-for-naira policy. The sub-committee convened on Tuesday to assess the progress of the initiative and iron out challenges in its implementation.

The meeting was attended by top-level stakeholders, including:

• Wale Edun, Minister of Finance and Chairman of the Implementation Committee

• Zacch Adedeji, FIRS Chairman and head of the Technical Sub-Committee

• Dapo Segun, CFO of NNPC Limited

• Coordinators and representatives from NNPC Refineries, NNPC Trading, Dangote Refinery, NUPRC, NMDPRA, CBN, NPA, Afreximbank, and Committee Secretary Hauwa Ibrahim.

The outcome of the meeting is expected to influence ongoing strategies around fuel pricing, domestic supply, and forex stability.