DANGOTE REFINERY BEGINS DIESEL SALES TO MARKETERS, NNPC REDUCES PETROL PRICES

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DANGOTE REFINERY BEGINS DIESEL SALES TO MARKETERS; NNPC REDUCES PETROL PRICES

The Dangote Petroleum Refinery is set to commence sales of diesel to marketers as from today, Tuesday, April 2, 2024.

The refinery has set a minimum sale volume of one million litres of Automotive Gas Oil (AGO) diesel per marketer.

According to the national president of the Independent Petroleum Marketers Association of Nigeria (IPMAN), Alhaji Abubakar Maigandi, the move is expected to have a considerable impact on the availability and price of diesel in the country.

At the same time, the Nigerian National Petroleum Corporation (NNPC) has announced a reduction in petrol prices across the country.

The new prices are aimed at easing the burden on consumers and making fuel more affordable for the general public. This decision by the NNPC aligns with the government’s commitment to improving the welfare of its citizens.

Dangote Refinery’s decision to sell diesel to marketers is a major milestone for the company, which is Africa’s largest oil refinery.

The refinery is expected to significantly boost the supply of petroleum products in Nigeria and reduce the country’s reliance on imports.

The refinery’s operations are also expected to have a positive impact on the economy by creating jobs and stimulating growth in related industries.

Economists and industry experts have welcomed the news, with some predicting that the price of diesel per litre will fall below N1,000 by May.

This is due to the commencement of diesel production at the Dangote Refinery, which will help to stabilize prices and improve the availability of the product.

The lower diesel prices are expected to have a positive impact on various sectors of the economy, including the transportation, manufacturing, and agricultural industries.

The NNPC’s decision to reduce petrol prices nationwide is also a welcome development for consumers. The move is expected to ease the burden on households and businesses that rely on petrol for their daily activities.

The reduction in petrol prices is part of the government’s efforts to ensure that fuel remains affordable for all Nigerians.

The commencement of diesel sales by the Dangote Refinery and the reduction in petrol prices by the NNPC are significant developments for Nigeria’s energy sector.These moves are expected to have a positive impact on the economy by improving the availability of petroleum products and making them more affordable for consumers.

  • Dons Eze

    DONS EZE, PhD, Political Philosopher and Journalist of over four decades standing, worked in several newspaper houses across the country, and rose to the positions of Editor and General Manager. A UNESCO Fellow in Journalism, Dr. Dons Eze, a prolific writer and author of many books, attended several courses on Journalism and Communication in both Nigeria and overseas, including a Postgraduate Course on Journalism at Warsaw, Poland; Strategic Communication and Practical Communication Approach at RIPA International, London, the United Kingdom, among others.

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    PETROL PRICE SURGES TO N1,150/LITRE

    PETROL PRICE SURGES TO N1,150/LITRE Saturday Telegraph had on Friday reported that the Dangote refinery notified its customers of a price increase, raising the ex-depot rate from N899 per litre to N955 per litre. According to the statement, Customers purchasing between 2 million and 4.99 million litres now pay N955 per litre, while those buying 5 million litres or more are charged N950 per litre. This adjustment reflects a N55 or 6.17% increase from the previous discounted rate of N899.50, which was introduced in December 2024. The hike has sparked varying retail price increases across fuel stations nationwide, with some locations already reporting prices exceeding N1,100 per litre. Chinedu Ukadike, spokesperson for the Independent Petroleum Marketers Association of Nigeria (IPMAN), confirmed that petrol prices are likely to surpass N1,100 per litre at member stations. He attributed the increase to rising logistics costs, which add approximately N50 per litre to the ex-depot price. “Commuters in distant locations may pay over N1,150 per litre, while those closer to depots might pay N1,100. “The rise in crude oil prices has made this adjustment inevitable,” Ukadike stated. Billy Gillis-Harry, President of the Petroleum Products Retail Outlet Owners Association of Nigeria (PETROAN), noted that while the exact retail price remains uncertain, higher costs are unavoidable due to logistics and operational expenses. In Abuja, filling stations have already implemented at least a N50 increase, while outlets operated by the Nigerian National Petroleum Company Limited (NNPCL) are maintaining a price of N965 per litre as of Friday evening. The sudden increase in ex-depot prices by Dangote Refinery and other depot owners is expected to compound challenges for Nigerian commuters, who now face higher transportation and living costs. The situation highlights the direct impact of global crude oil price fluctuations on local fuel pricing. Further adjustments in retail prices are anticipated as marketers recalibrate their pricing strategies to reflect the updated ex-depot rates.

    PETROL PRICE SURGES TO N1,150/LITRE

    PETROL PRICE SURGES TO N1,150/LITRE Saturday Telegraph had on Friday reported that the Dangote refinery notified its customers of a price increase, raising the ex-depot rate from N899 per litre to N955 per litre. According to the statement, Customers purchasing between 2 million and 4.99 million litres now pay N955 per litre, while those buying 5 million litres or more are charged N950 per litre. This adjustment reflects a N55 or 6.17% increase from the previous discounted rate of N899.50, which was introduced in December 2024. The hike has sparked varying retail price increases across fuel stations nationwide, with some locations already reporting prices exceeding N1,100 per litre. Chinedu Ukadike, spokesperson for the Independent Petroleum Marketers Association of Nigeria (IPMAN), confirmed that petrol prices are likely to surpass N1,100 per litre at member stations. He attributed the increase to rising logistics costs, which add approximately N50 per litre to the ex-depot price. “Commuters in distant locations may pay over N1,150 per litre, while those closer to depots might pay N1,100. “The rise in crude oil prices has made this adjustment inevitable,” Ukadike stated. Billy Gillis-Harry, President of the Petroleum Products Retail Outlet Owners Association of Nigeria (PETROAN), noted that while the exact retail price remains uncertain, higher costs are unavoidable due to logistics and operational expenses. In Abuja, filling stations have already implemented at least a N50 increase, while outlets operated by the Nigerian National Petroleum Company Limited (NNPCL) are maintaining a price of N965 per litre as of Friday evening. The sudden increase in ex-depot prices by Dangote Refinery and other depot owners is expected to compound challenges for Nigerian commuters, who now face higher transportation and living costs. The situation highlights the direct impact of global crude oil price fluctuations on local fuel pricing. Further adjustments in retail prices are anticipated as marketers recalibrate their pricing strategies to reflect the updated ex-depot rates.

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