BREAKING: Dangote Refinery Crashes Petrol Price To N899 Per Litre

The Dangote Refinery has reduced prices of its products, with rates dropping to as low as N899 per litre, in its continued effort to stabilise the market and enhance supply to marketers.
It was noted that the new pricing policy offers petrol at N899.5 per litre for cash purchases of two million liters, with an additional two million liters available on a bank guarantee valid for 15 days from either Access, Zenith or First Bank.
However, marketers asking for higher volumes can purchase 10 million liters at N895 per litre with an equivalent matching volume on the same bank guarantee terms.
Dangote har earlier in November, lowered the price of its Premium Motor Spirit, PMS, otherwise known as petrol to N970 per litre, down from N990. The refinery also, provided marketers with a N20 per litre discount to ease distribution costs.
Dangote's latest price adjustment comes at a critical time for Nigeria’s energy sector, as stakeholders continue to navigate challenges surrounding fuel availability and affordability, even as Market observers believe that the price reduction will alleviate some of the cost pressures on independent marketers and, by extension, other Nigerians, especially the consumers as well as create problems for marketers who had earlier placed orders overseas.