National Telescope national telescope newspaper
By Ekpenyong Emmanuel
Dangote Petroleum Refinery & Petrochemicals has reduced the price of diesel to N1,020 per litre.
This is the third time the refinery has reduced the price of diesel since it began production in January 2024.
The price reduction is a significant one, as the initial price of diesel was N1,700 per litre.
The reduction is expected to have a positive impact on the economy, as diesel is a critical component of many industries.
The refinery’s efforts to stabilize the price of petroleum products in Nigeria have been praised by experts.
“What has actually happened is that the president has shifted the subsidy burden away from the public purse and onto the private sector,” said Prof. Ken Ife, a Development Economist and Public Policy Analyst.
Prof. Ife also noted that the refinery’s sacrifice of over N10 billion to ensure the availability of petrol at a uniform price across the country during the yuletide period was a significant one.
He praised the refinery’s commitment to investing in Nigeria’s energy sector, saying it was a testament to the potential for private sector investment to drive economic growth and development.
The refinery’s efforts are also expected to have a positive impact on the country’s inflation rate.
With the cost of diesel decreasing, the cost of transportation and other related services is also expected to decrease, leading to a reduction in the overall inflation rate.
