NEWS

REDUSING FUEL PRICES SOURCED FROM OUR REFINERY WILL PLAY A ROLE IN BRING DOWN INFLATION - ALH ALIKO DANGOTE 


Following request by oil marketers in Nigeria on Dangote Petroleum Refinery to reduce price of diesel, Alh. Aliko Dangote, Chairman Dangote Group has stated that his refinery's ability to sell diesel at significantly discount prices will help address the country's inflation concerns.

 He made this known to newsmen at Lagos after visiting President Bola Tinubu for Eid-el Fitr celebration on Wednesday. 

The call has become necessary considering high cost of production borne by indigenous companies who are compelled to use diesel owing to acute power shortage, the effect of which is largely felt by consumers. Lately, Nigerians have complained bitterly about rising inflation, making prices of commodities increasing to unbearable rate.

The Petroleum Marketers Association observed that current price of diesel, ranging between N1225 - N1300 is on the high side in view of location of the refinery and recent appreciation of Naira. 

Acknowledging that Naira is gradually regaining its value, Dangote noted that this development is begining to have positive impact on locally-produced prices of commodities like flour whose price is starting to come down as businesses pay less for diesel.

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