GOODNEWS At Last: Dangote Crashes Diesel Price To The Cheapest, Breaks Good News Over Petroleum; See Details
Dr. Ralph Arokoyo, the Chief Executive of AF Ralph Oil and Gas Ventures, has confirmed that the long- awaited relief in fuel supply is on the horizon as Dangote Refinery gears up to introduce petrol into the market by May. This announcement follows the refinery’ s recent confirmation of diesel sales to marketers, signaling a promising shift in the energy landscape.
In an interview with Punch, Arokoyo expressed optimism about the imminent availability of petrol, citing its significant usage among Nigerians. He emphasized the positive impact of Dangote Refinery’ s operations, stating, ” We are optimistic about this, because PMS is largely used by Nigerians. ”
A senior official at the refinery, speaking anonymously due to lack of authorization, affirmed the commencement of diesel sales and hinted at the forthcoming release of petrol. This development is expected to alleviate the strain on consumers and businesses, particularly in light of recent energy cost escalations.
The reduction in diesel prices across Nigeria, from approximately N1, 700 per litre to around N1, 350, can be attributed to the entry of Dangote Petroleum Refinery into the market. This significant drop is a welcome relief, with consumers and businesses alike benefiting from the downward trend in fuel costs.
Marketers registered with the refinery have been quick to seize the opportunity, purchasing diesel in large quantities. Each marketer has been able to procure a minimum of one million litres since the onset of sales, with prices ranging between N1, 225 and N1, 300 per litre, depending on the volume purchased.
Abubakar Maigandi, the National President of the Independent Petroleum Marketers Association of Nigeria, lauded the refinery’ s initiative, noting its potential to drive down diesel prices further. He remarked, “The price of diesel is going to fall because of the release of products from Dangote refinery. In fact, it is already coming down in Lagos. ”
Echoing Maigandi’ s sentiments, Dr. Arokoyo highlighted the positive repercussions of the refinery’ s operations on fuel prices nationwide. He emphasized the current availability of diesel at reduced rates, with expectations of further price reductions in the coming weeks as more products from the refinery enter the market.
With the promise of petrol hitting the market next month, stakeholders anticipate a significant improvement in fuel supply dynamics. The refinery’ s strategic move is poised to address the longstanding challenges in Nigeria’ s fuel sector, offering hope for a more stable and affordable energy future. As consumers await the fruition of these developments, the prospect of a more resilient energy ecosystem looms on the horizon.
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