Those Dangote Refinery’s Oil Price Slashes Can Benefit

In about three weeks, Dangote Petroleum Refinery has slashed its diesel price three times, the latest being April 23. The refinery now sells  diesel and aviation oil at N940, and N980 per litre respectively.

Its diesel price has been trending down from N1200, amid upswings in oil prices on the global market. Many Nigerians, including President Bola Tinubu, have commended the owner Aliko Dangote for supporting Nigeria’s economy at this point.

The price slashes, however, can only benefit certain categories of buyers. After then, the benefits may trickle down to ordinary Nigerians.

For the current regime, the price N940 applies to customers buying five million litres and above from the refinery. And  the price of N970 is for customers buying one million litres and above.

Tony Chiejinle, media head of the Dangote Group, hinted that the refinery has already formed a partnership with MRS. Others will soon join.

How these partners play the market matters, especially in the long run.

The Director General of the Manufacturers Association of Nigeria, Ajayi Kadiri, commended this decision. 

“It’s an eloquent demonstration of the capacity of local industries to positively impact the fortunes of the national economy,” he said.

He foresaw the trickle  effect affecting energy costs in Nigeria, especially as citizens faces rising electricity cost.