Dangote Petroleum Refinery and Petrochemicals has reviewed its ex-depot loading cost of petrol to N867 from N880 per litre.
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 around ₦910 from around ₦925 to reflect the marginal reduction in the ex-depot price of the premium commodity.
The price reduction by the private refinery followed a meeting between representatives of the Dangote Refinery and the Minister of Finance Wale Edun on Tuesday.
At the end of the meeting, the government said that the naira-for-crude was still in effect and that the initiative was not a temporary measure but a “key policy directive designed to support sustainable local refining”.