The Dangote Petroleum Refinery has credited the Federal Government’s naira-for-crude policy for the recent reduction in petrol prices, resulting in lower costs at the pump for Nigerian consumers.
In a statement released on Monday, the company emphasised that petrol prices will remain stable and affordable despite ongoing fluctuations in global crude oil markets. The refinery stated that its continued price reductions demonstrate its commitment to easing the economic burden on Nigerians.
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“Our decision to maintain price stability reflects our unwavering support for the Nigerian economy and our consumers,” said Anthony Chiejina, Group Chief Branding and Communications Officer of the Dangote Group.
Chiejina added, “We are deeply grateful to President Bola Tinubu for the naira-for-crude initiative, which has made it possible for us to consistently reduce the price of petroleum products for the benefit of all Nigerians.”
The naira-for-crude arrangement allows local refineries to pay for crude oil in naira rather than foreign currency, helping stabilise fuel prices and reduce the impact of currency volatility.
