Dangote increases price of diesel to N1100 per litre

After every week, the $20 billion facility once more introduced one other value crash for diesel however with a caveat that the modifications solely utilized to sellers shopping for as much as 5 million litres and above.

Nonetheless, on Tuesday, Could 21, 2024, diesel prices from the ability rose from N940 per litre to N1,100. 

Another sellers who bought lesser volumes mentioned they bought the product at N1,200/litre.

Oil entrepreneurs who spoke to The PUNCH mentioned that the hike in diesel value by the $22bn price refinery situated in Epe, Lagos, was as a result of latest southward motion of the naira towards the greenback.

“The refinery had earlier diminished the worth of its diesel to round N940/litre, but it surely later elevated it as much as N1,100/litre. This occurred lately, possibly about two weeks in the past,” the Nationwide President, of the Unbiased Petroleum Entrepreneurs Affiliation of Nigeria, Abubakar Maigandi, acknowledged.

Offering a purpose for this, Maigandi mentioned that it “is due to the rising trade charge, in line with what the refinery instructed us.”

By RemmyTex

Remmytex is a blogger, promoter, entrepreneur and and a businessman. Call or send a Whatsapp message for more information on +2349075664854 or you can email remmytexblog1@gmail.com

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