In an unprecedented move, Dangote Petroleum Refinery, yesterday, announced a further reduction of the price of automotive gas oil (AGO), popularly called diesel from N1,200 to N1,000 per litre.
While rolling out the products, the refinery supplied at a substantially reduced price of N1,200 per litre three weeks ago, representing over 30% reduction from the previous market price of about N1,600 per litre, it said in a statement.
This significant reduction in the price of diesel, at Dangote Petroleum Refinery, is expected to positively affect all the spheres of the economy and ultimately reduce the high inflation rate in Nigeria, which hit a record 33.20% in April, according to data from the National Bureau of Statistics (NBS) on Monday.
This significant reduction in the price of diesel, at Dangote Petroleum Refinery, is expected to positively affect all the spheres of the economy and ultimately reduce the high inflation rate in Nigeria.
