The Dangote Petroleum Refinery has said that the naira-for-crude deal allowed it to reduce the price of petrol, which translates to reduced costs at the pumps.
This is even as the company affirmed that the prices of petrol will remain affordable and stable. The company said on Monday that despite the fluctuations in global crude oil prices, it has consistently reduced the price of petrol.
The company, in a release signed its Group Chief Branding and Communications Officer, Anthony Chiejina, said the decision to maintain price stability reflects its unwavering commitment to supporting the Nigerian economy and alleviating the burden on consumers from the increase in fuel prices by maintaining price stability.
“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 statement stated.