For the second time in the month of April, Dangote Petroleum Refinery and Petrochemicals, yesterday again reviewed its ex-depot (gantry) loading cost of petrol to N835 per litre.
The $20bn Lagos-based refinery informed its marketers and customers of the slash yesterday.
An official at the refinery confirmed the price reduction from N867 to N835 per litre to Channels Television. The official also said the refinery would release a statement.
Checks into petroleumprice.ng also confirmed that the private refinery reduced its gantry price to N835 yesterday.
Filling stations like MRS Oil & Gas, Ardova Plc, Heyden, and others with special agreements with the Dangote Refinery are expected to reduce their pump price to below N900 to reflect the marginal reduction in the ex-depot price of the premium commodity.
The price reduction by the private refinery followed a meeting between representatives of the Dangote Refinery and the Minister of Finance Wale Edun last week.
At the end of the meeting, the government said that the naira-for-crude was still in effect and that the initiative was not a temporary measure but a “key policy directive designed to support sustainable local refining”.
The government also said the initiative is still in effect and will continue immediately, overruling the decision of the NNPCL under its former boss Mele Kyari which tenured the initiative.