Dangote Petroleum Refinery has once again taken a significant step towards alleviating the economic burden on Nigerians by reducing the prices of diesel and aviation fuel.

The refinery announced a reduction to ₦940 per litre for diesel and ₦980 per litre for aviation fuel, following its recent price cut to ₦1,000 per litre just two weeks ago.

According to Mr Anthony Chiejina, the Head of Communication at Dangote Petroleum Refinery, the new pricing strategy is part of the company’s commitment to mitigating the impact of economic challenges in Nigeria.

“I can confirm to you that Dangote Petroleum Refinery has entered a strategic partnership with MRS Oil and Gas stations to ensure that consumers get to buy fuel at an affordable price in all their stations, be it Lagos or Maiduguri. You can buy as low as 1 litre of diesel at ₦1,050 and aviation fuel at ₦980 at all major airports where MRS operates,” he said.

Chiejina also revealed that Dangote Petroleum Refinery has formed a strategic partnership with MRS Oil and Gas stations to ensure that consumers across Nigeria can access affordable fuel.

“The Dangote Group is committed to ensuring that Nigerians have better welfare and as such, we are happy to announce these new prices and hope that it would go a long way to cushion the effect of economic challenges in the country,” the statement read in part.

The partnership aims to offer competitive prices at all MRS stations, including major airports where aviation fuel will be available for ₦980 per litre.

Furthermore, the refinery plans to extend this partnership to other major oil marketers to prevent retail buyers from purchasing fuel at exorbitant prices.

The decision to reduce fuel prices is part of Dangote Group’s commitment to enhancing the welfare of Nigerians. The company hopes that these price adjustments will help alleviate the economic challenges faced by individuals and businesses across the country.

This marks the third major reduction in diesel price in less than three weeks when the product sold at ₦1,700 to ₦1,200 and a further reduction to ₦1,000 and now ₦940 for diesel and ₦980 for aviation fuel per litre.

Nigerian President Bola Tinubu previously commended Dangote for its initial price reduction, describing it as a commendable achievement.

Reacting to the latest development, Mr Ajayi Kadiri, the Director General of the Manufacturers Association of Nigeria (MAN), lauded Dangote Refinery’s efforts, emphasizing the positive impact on the economy.

Kadiri highlighted the potential benefits for critical sectors such as industrial operations, transportation, logistics, and agriculture, which could help alleviate the country’s high inflation rate and stimulate economic growth.

The reduction in fuel prices is expected to encourage more companies to resume operations, contributing to the overall recovery and stability of the Nigerian economy.