ADVERTISEMENT
  • Hausa Edition
  • Podcast
  • Conferences
  • LeVogue Magazine
  • Business News
  • Print Advert Rates
  • Online Advert Rates
  • Contact Us
Tuesday, September 16, 2025
Leadership Newspapers
Read in Hausa
  • Home
  • News
  • Politics
  • Business
  • Sport
    • All
    • Athletics
    • Basketball
    • Boxing
    • Esports
    • Football
    • Olympics
    • Paralympics
    • Tennis

    American Tinch Wins World 110m Hurdles Gold In Tokyo

    New Zealand’s Kerr Clinches Gold In Men’s High Jump At World Athletics Championships

    World Athletics Championships: Kipyegon Wins Historic Fourth World 1500m Gold

    NSC Pays Athletes’ Allowances, Bonuses At Tokyo World Championships

  • Health
  • Entertainment
  • Opinion
    • Editorial
  • Columns
  • Football
  • Others
    • LeVogue Magazine
    • Conferences
    • National Economy
  • Contact Us
No Result
View All Result
  • Home
  • News
  • Politics
  • Business
  • Sport
    • All
    • Athletics
    • Basketball
    • Boxing
    • Esports
    • Football
    • Olympics
    • Paralympics
    • Tennis

    American Tinch Wins World 110m Hurdles Gold In Tokyo

    New Zealand’s Kerr Clinches Gold In Men’s High Jump At World Athletics Championships

    World Athletics Championships: Kipyegon Wins Historic Fourth World 1500m Gold

    NSC Pays Athletes’ Allowances, Bonuses At Tokyo World Championships

  • Health
  • Entertainment
  • Opinion
    • Editorial
  • Columns
  • Football
  • Others
    • LeVogue Magazine
    • Conferences
    • National Economy
  • Contact Us
No Result
View All Result
Leadership Newspapers
No Result
View All Result

Dangote Diesel Price Crashes To N1,020 Per Litre

by Chika Izuora
7 months ago
in Business
Dangote
Share on WhatsAppShare on FacebookShare on XTelegram

Dangote Petroleum Refinery & Petrochemicals has reviewed downwards the cost of its diesel product to N1,020 per litre from N1,075 per litre in an effort to better serve its customers and Nigerians in general.

Advertisement

Since it began diesel production in January 2024, the refinery has reduced the price of diesel more than three times, from an initial N1,700 per litre to the current rate, thus providing much-needed relief to manufacturers and consumers alike.

The latest reduction of N55 per litre for diesel follows the revelation by Development Economist and Public Policy Analyst, Prof. Ken Ife,who said, the Dangote Petroleum Refinery sacrificed over N10 billion to ensure the availability of petrol at a uniform price across the country during the yuletide period. He also praised the refinery for setting a new benchmark in Nigeria’s energy sector by unlocking vast opportunities for export revenue.

Speaking on the transformative impact of the refinery on Arise TV, Prof. Ife explained that for years, the equalisation fund had been responsible for managing the price differentials and transportation costs involved in distributing petroleum across the country. However, it has been reported that the fund owes marketers over N80 billion, according to the development analyst.

“What has actually happened is that the president has shifted the subsidy burden away from the public purse and onto the private sector. The equalisation fund, which was meant to cover the price differential and transportation costs, plays a crucial role. If petroleum is to be sold across the country at a set price, then transportation costs must be accounted for to ensure this is possible. That’s the purpose of equalisation. However, the equalisation fund is reported to owe around N80 billion to the marketers, and this issue is still under discussion.

Related News

UBA Fire: 9 Rescued, 5 Revived As Emergency Response Intensifies In Lagos

28 minutes ago

Lenders Would Have Seized My Assets If Refinery Project Failed – Dangote

4 hours ago

“During the Christmas season, which is traditionally the most challenging period, we often face shortages of petroleum, petrol hoarding, and arbitrary price hikes, all of which impact the cost of food. In response, during this last yuletide, the Dangote Group made the decision to absorb the costs. They equalised the price themselves, at a cost of over N10 billion. In doing so, they effectively absorbed the subsidy,” he said.

Prof Ife also said,  the facility is steering Nigeria away from its traditional focus on Premium Motor Spirit (PMS) towards a diversified range of petroleum-based exports.

He added that with major international players such as BP and Saudi Aramco purchasing refined products from Nigeria, the country is swiftly becoming a key player in the global petroleum market.

The analyst expressed confidence that Nigeria is on the path to self-sufficiency in petroleum products, while simultaneously positioning itself as an energy export powerhouse

Join Our WhatsApp Channel

Tags: Dangote Refinery
SendShare10174Tweet6359Share

Other News Updates

Business

UBA Fire: 9 Rescued, 5 Revived As Emergency Response Intensifies In Lagos

2025/09/16
Business

Lenders Would Have Seized My Assets If Refinery Project Failed – Dangote

2025/09/16
Business

Court Orders Final Forfeiture Of $7m In Providus Bank Vault

2025/09/16
Business

Nigeria’s AI Adoption Surpasses Global Growth Average

2025/09/16
Business

Nigeria Leads Digital Asset Adoption In Africa

2025/09/16
Business

External Reserves Grow By 12% To $41.663bn

2025/09/16
Leadership Conference advertisement

LATEST

2 Die In Petrol Tanker Accident On Ilorin–Jebba Expressway

JUST-IN: Tinubu Back In Abuja After 2-week Vacation In France

UNILAG Don Tackles Firms For Opting To Fund BBNaija Show Over Research

Gunmen Abduct Corps Member, UNIJOS Student In Plateau

UBA Fire: 9 Rescued, 5 Revived As Emergency Response Intensifies In Lagos

Governor Sule Donates Office Complex As NCDC Takes Off

‘I’m Committed To Ahmadu Bello’s Ideals’, Says Governor AbdulRazaq

IAWPA Chieftain, Felicia Iwobi, Calls For Agricultural Investment In Nigeria

Bida Poly Deploys Soldiers As Exam Invigilators As Lecturers Stay Away

Daisy Danjuma, Tumaka, Salami Endorse ‘Leading In A Storm’ For Public, Private Sector Leaders

© 2025 Leadership Media Group - All Rights Reserved.

No Result
View All Result
  • Home
  • News
  • Politics
  • Business
  • Sport
  • Health
  • Entertainment
  • Opinion
    • Editorial
  • Columns
  • Football
  • Others
    • LeVogue Magazine
    • Conferences
    • National Economy
  • Contact Us

© 2025 Leadership Media Group - All Rights Reserved.