According to him, the move was to protect the interests of the company and that of its investments.
“The price reduction is a response to the markets. Just put it that way. It is a refinery where we invested over $20 billion, and I think we have to try and protect our interests and also our investments.”
On December 19, 2024, that Dangote Refinery slashed its ex-depot petrol price to N899.50 per litre from N970.
The development was followed by the reduction in retail price to N935 per litre in partnership with MRS filling stations.
In reaction, the Nigerian National Petroleum Company Limited, NNPCL, also reduced its ex-depot and retail prices to N899 per litre and N965, respectively.
“The price reduction is a response to the markets. Just put it that way. It is a refinery where we invested over $20 billion, and I think we have to try and protect our interests and also our investments.”
On December 19, 2024, that Dangote Refinery slashed its ex-depot petrol price to N899.50 per litre from N970.
The development was followed by the reduction in retail price to N935 per litre in partnership with MRS filling stations.
In reaction, the Nigerian National Petroleum Company Limited, NNPCL, also reduced its ex-depot and retail prices to N899 per litre and N965, respectively.
From dailöypost
Nice move anyways...
ReplyDeleteIt's a good one. Let it reduce further to #500 per litre
ReplyDeleteIt is well with you baba D
ReplyDeleteCompetition at work. Good one.
ReplyDeleteGood one.
ReplyDeleteTrying to be clever by half. The price kf crude dropped little short of 10 dollars in the market. As much as dangote didn't want to reduce his price initially, he was forced to when some oil marketers imported product that was cheaper than what Dangote sells.
ReplyDeleteIt's all good
ReplyDeleteNice one just imagine Bua Refinery finishes it complex. There will be serious competition. All this government policy will come to an end eventually.
ReplyDeleteWhile competition helps, market forces also plays a crucial role.
DeleteFuel no go come down to 500h per litre