He said, “The price reduction is a response to the market, let me just put it that way. It is a refinery where we invested over $20bn and I think we have to try and protect our interests and also our investments.”
On December 19, 2024, Dangote Refinery lowered its ex-depot petrol price from N970 to N899.50 per litre.
This move triggered fierce price competition in the downstream sector, prompting the NNPCL to follow suit and reduce its ex-depot price to N899 per litre.