Dangote Petrochemicals Refinery in Lekki, Lagos, Nigeria's commercial city has again cut its ex-depot (gantry) loading cost of petrol to ₦835 per litre, the second time within April
It was learnt that the $20billion single world largest petro-chemicals refinery has informed its marketers and customers of the slash on Wednesday.
An official at the refinery who confirmed the price reduction from ₦867 to ₦835 per litre, also said the refinery would release a statement.
Checks into petroleumprice.ng also confirmed that the private refinery reduced its gantry price to ₦835 on Wednesday afternoon.
Filling stations like MRS Oil & Gas, Ardova Plc, Heyden, and others with special agreements with the Dangote Refinery are expected to reduce their pump price to below ₦900 to reflect the marginal reduction in the ex-depot price of the premium commodity.
Edu-Biznews recalls that since the meeting between the Co-ordinating Minister of Economy and Finance, Wale Edun and representatives of the Dangote Refinery held last week Wednesday, it was agreed that the Naira-for-Crude Policy was not a temporary measure but a permanent key-policy initiative by the Federal Government to encourage local refineries to refine products in the country and reduce drastically importation of the refined Premium Motor Spirit popularly known as Petrol
The policy had been before now a subject of the controversy between Dangote Refinery Company and Nigeria National Petroleum Company Limited under the immediate past Group Managing Director , Melee Kyari who claimed that the policy was for a period of six months subject to be reviewed
The decision led to sudden increase in the pump price of petrol across the country from the Dangote Refinery while some of the independent marketers had to rely on importation of the product which according to them is cheaper than locally refined Petrol.
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