The Dangote Petroleum Refinery has credited the Federal Government’s naira-for-crude oil initiative for the recent drop in petrol prices, stating that the policy helped reduce production costs and sustain stable pump prices amid fluctuations in the global crude oil market.
Anthony Chiejina, the Group Chief Branding and Communications Officer, said in a statement on Monday that the action is a reflection of the company’s determination to protect Nigerians from the effects of growing fuel prices.
“We are immensely grateful to President Bola Tinubu for making this possible through the commendable naira-for-crude initiative, which has enabled us to consistently reduce the price of petroleum products for the benefit of all Nigerians,” the company said.
Dangote Refinery emphasized that its pricing strategy aligns with the Federal Government’s ‘Nigeria First Policy,’ promoting the use of locally refined products to strengthen energy security and reduce dependence on imports.
The company further noted that by refining products domestically, it contributes to foreign exchange savings, economic stability, and the realisation of the Renewed Hope Agenda.
In order to guarantee that Nigerians fully benefit from the nation’s expanding refining capacity, Dangote Refinery reaffirmed its dedication to affordability, quality, and national development. It also promised to continue working with stakeholders.
