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🇳🇬 NigeriaBusinessStory: Dangote stock listing

Dangote Refinery cuts petrol price to 1,215 naira per litre

By , based on Daily Post

Dangote Refinery cuts petrol price to 1,215 naira per litreFrankvEck · CC BY-SA 4.0

Dangote Refinery has cut its wholesale petrol price to 1,215 naira per litre, a reduction of 35 naira. The decrease is expected to bring pump prices down from Monday, while Nigerian stations currently charge between 1,370 and 1,429 naira per litre, according to Daily Post Nigeria.

Dangote Refinery, Africa’s largest refinery, has cut the wholesale price of its petrol by 35 naira, from 1,250 to 1,215 naira per litre, according to a Daily Post survey. Olatide Jeremiah, chief executive of Petroleumprice.ng, confirmed the new price set by consortium marketers.

Soroman, Aiteo and Masters depots are currently selling petrol for between 1,255 and 1,300 naira per litre, according to Olatide Jeremiah. At Nigerian petrol stations, retail prices range from 1,370 to 1,429 naira and could fall from Monday, according to Daily Post.

Abubakar Maigandi, president of the Independent Petroleum Marketers Association of Nigeria (IPMAN), described the reduction as favourable to Nigerian consumers. At the time of publication, a barrel of crude oil was worth $104 for WTI and $113 for Brent, according to Daily Post.

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Ongoing story · day by day

Dangote stock listing

The Dangote refinery opens its share offering, targets $1.6 billion, and extends its stock-market listing.

The latest developments

Earlier in this story

  1. 29 OctDangote to supply half of Cameroon’s imported fuel
  2. 28 OctDangote refinery offer attracts $4.78 billion in subscriptions
  3. 27 OctKenya Pipeline shares rise 10% after Dangote investment
  4. 27 OctTinubu praises Dangote for creating jobs and reducing imports
  5. 26 OctDangote Refinery deploys AI targeting $60 million in annual benefits
The whole story: 46 articles →

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