President Bola Tinubu has commended the enterprising feat of Dangote Oil and Gas Limited in reducing the gantry price of Automotive Gas Oil (AGO), also known as diesel.
The Group recently reviewed downwards the gantry price of AGO from N1,650 to N1,000 per litre for a minimum of one million litres of the product, as well as providing a discount of N30 per litre for an offtake of five million litres and above.
The price review represents a 60 percent drop, which will, in no small measure, impact the prices of sundry goods and services.
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The President in a statement by his Special Adviser to the President (Media & Publicity), Chief Ajuri Ngelale, affirmed that Nigerians and domestic businesses are the nation’s surest transport and security to that glorious destiny of economic prosperity, noting the federal government’s 20 percent stake in Dangote Refinery and why such partnerships between public and private entities are essential to advancing the overall well-being of the country.
The President calls on Nigerians and businesses to, at this time, put the nation in priority gear while assuring them of a conducive, safe, and secure environment to thrive.
TheLeadng reports that Dangote Petroleum Refinery, yesterday, in an unprecedented move, announced further reduction of the price of diesel from 1200 to 1,000 naira per litre as the refinery had supplied at a substantially reduced price of N1,200 per litre three weeks ago when it rolled out the product, representing over 30 per cent reduction from the previous market price of about N1,600 per litre.
The $20bn worth refinery started pumping out diesel to the domestic market.
It sold a minimum of one million litres to each registered oil marketer that got the product from the plant since it commenced diesel sale.
Officials of the multi-billion dollar plant and oil dealers confirmed that the product was dispensed to marketers at between N1,225/litre and N1,300/litre depending on the volume of purchase.
This came as it was also gathered that the refinery would start releasing Premium Motor Spirit to the domestic market in May this year.
