Dangote Refinery Announces New Price Of Petrol

Dangote Refinery has reduced the price of petrol to ₦865 per liter, marking a ₦15 decrease from the previous price of ₦880 per liter sold by the facility on Wednesday.

According to Punch, the refinery informed its customers in a notice sent out on Thursday morning, which was also confirmed by petroleumprice.ng.

Naija News reports that this adjustment follows the suspension of the Naira-for-Crude deal between the refinery and the federal government.

Oil marketers, including MRS, have begun lifting petrol from the refinery, which boasts a production capacity of 650,000 barrels per day.

The price adjustment comes after the Technical Sub-Committee on the Crude and Refined Product Sales in Naira initiative confirmed that the federal government’s crude-for-naira policy would continue.

The Sub-Committee held a meeting on Tuesday to review the progress of the policy and address ongoing implementation challenges.

The meeting, which discussed matters surrounding the Crude and Refined Product Sales in Naira initiative, was attended by several high-level officials. These included the Chairman of the Implementation Committee, Minister of Finance and Coordinating Minister of the Economy, Wale Edun; the Chairman of the Technical Sub-Committee, Zacch Adedeji, who is also the Executive Chairman of the Federal Inland Revenue Service (FIRS); and Dapo Segun, the Chief Financial Officer of NNPC Limited.

Other notable participants were the Coordinator of NNPC Refineries, NNPC Trading management, representatives from Dangote Petroleum Refinery and Petrochemicals, officials from the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), the Central Bank of Nigeria (CBN), the Nigerian Ports Authority (NPA), Afreximbank, and the Secretary of the Committee, Hauwa Ibrahim.