• News
  • Business
  • Opportunities
  • Articles & Resources
  • Spotlight
  • Views
    • Interviews
    • Opinions
  • MSME Jobs
  • More
    • Africa
    • World
  • webmail
  • Terms of Use
MSME Africa
  • News
  • Business
  • Opportunities
  • Articles & Resources
  • Spotlight
  • Views
    • Interviews
    • Opinions
  • MSME Jobs
  • More
    • Africa
    • World
  • webmail
  • Terms of Use
No Result
View All Result
  • News
  • Business
  • Opportunities
  • Articles & Resources
  • Spotlight
  • Views
    • Interviews
    • Opinions
  • MSME Jobs
  • More
    • Africa
    • World
  • webmail
  • Terms of Use
No Result
View All Result
MSME Africa
No Result
View All Result

Dangote Refinery Cuts Petrol Loading Price to ₦865 Amid Return of Naira-for-Crude Policy

Olusola Blessing by Olusola Blessing
April 10, 2025
in Business, News
0
Breaking: Again, Dangote Refinery reduces petrol price by 3.5% to N835 per litre
Share

Dangote Petroleum Refinery and Petrochemicals has reduced its ex-depot petrol loading price to ₦865 per litre, trimming ₦15 from its previous rate of ₦880. The $20 billion facility, which informed marketers and customers of the change on Thursday, confirmed the development through a company official.

The reduction has been reflected on petroleumprice.ng, and major fuel marketers such as MRS Oil & Gas, Ardova Plc, and Heyden—who maintain special supply agreements with the refinery—are expected to adjust pump prices to around ₦910 from the current ₦925.

The development follows a strategic meeting earlier in the week between Dangote Refinery officials and the Minister of Finance. During the engagement, the federal government reaffirmed its commitment to the naira-for-crude policy, describing it not as a temporary fix, but a crucial long-term approach to sustaining local refining and easing pressure on the US dollar.

The initiative, first introduced by the Federal Executive Council in July 2024, mandated the Nigerian National Petroleum Company Limited (NNPCL) to supply crude oil to local refineries in Naira instead of US dollars. This was aimed at promoting price stability in the local fuel market and strengthening the country’s foreign exchange position.

However, in March 2025, the NNPCL announced the expiration of its six-month Naira-denominated crude supply deal with the Dangote Refinery, leading the company to suspend local sales. In a statement, Dangote Refinery explained that selling its products in Naira while buying crude in dollars created an unsustainable mismatch in its operations. This decision triggered a sharp increase in petrol prices at the pump, rising from around ₦860 to over ₦1,000 per litre within days.

The situation prompted immediate government intervention. President Bola Tinubu dissolved the former NNPCL board led by Mele Kyari and appointed a new leadership, naming Bashir Ojulari as Group Chief Executive Officer and Ahmadu Kida as Non-Executive Chairman.

With the naira-for-crude policy now reinstated and crude oil supplies to Dangote Refinery resumed in local currency, experts anticipate a gradual stabilization in fuel prices. Nigerians, who have faced surging costs driven by dollar-linked fuel imports, are expected to feel some relief as domestic refining regains momentum under the renewed policy direction.

Post Views: 34
Share

Related Posts:

  • images (51)
    Naira-for-crude: Petrol Price Hike Looms As talks…
  • Best Cities to live as an Entrepreneur in Nigeria
    Ultimate 2024 Guide to the Top Business Enabling…
  • MSME Africa Unveils Top 50 Remarkable MSME Founders 2023, Awards them $25,000 in Media Credits
    MSME Africa Unveils Top 50 Remarkable MSME Founders…
  • DANGOTE-REFINERY
    Dangote Refinery Slashes Petrol Loading Price to…
  • Africa must prepare for the inevitability of a global food crisis - Akinwumi Adesina
    Overcoming Binding Constraints to Competitive…
  • NNPCL denies intentions of increasing fuel pump prices at retail stations
    Fuel Price in Nigeria set to increase further as…
Tags: DangoteNNPC
Previous Post

Call For Applications: World Health Summit 2025 Stipend Program (Fully Funded to Berlin, Germany)

Next Post

Call For Applications: FINCA Ventures Prize Competition 2025 for African Entrepreneurs (Over $100,000 Grant Prize)

Next Post
Call For Applications: FINCA Ventures Prize Competition 2025 for African Entrepreneurs (Over $100,000 Grant Prize)

Call For Applications: FINCA Ventures Prize Competition 2025 for African Entrepreneurs (Over $100,000 Grant Prize)

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

No Result
View All Result
Join MSME on Whatsapp
Subscribe To Our Newsletter
Enter your email to receive a weekly round-up of our best posts. Learn more!
icon
By subscribing, you agree with our privacy policy and our terms of service.

Recent Posts

  • Meta’s Exit Threat Puts Over Half of Nigerian MSMEs at Risk
  • Poor Infrastructure, Logistics Hinder African SMIs from Benefiting Fully from AfCFTA
  • JA Africa and Boeing Launch Youth-Focused STEM and Entrepreneurship Programmes in Nigeria, Togo
  • Nigeria’s Business Confidence Rises to +12.29 in April, but Structural Constraints Persist
  • OPay’s Security Questions Are Back and Smarter Than Ever

Recent Comments

  • 10 Reasons Why SMEs Should Invest in Video Marketing - MSME Africa on How to Create Viral Videos for Social Media in 2024
  • link alay4d on 5 Nigerian-based Companies Providing Accelerator Programs for Startups in 2024
  • Damilare Oladeji on Nigerian Government Agencies that Support Entrepreneurship in 2024
  • situs alay4d on 50 Best Tools to Boost Your Productivity as an Entrepreneur in 2024
  • Otabor Osayomore Blessing on Ultimate 2024 Guide to the Top Business Enabling Cities for Startup Founders and Entrepreneurs in Nigeria
  • About us
  • Advertise with us
  • Contact Us
  • Home
  • News
  • Newsletter
  • Submit News
  • Terms of Use

© 2023 MSME Africa - All rights reserved.

No Result
View All Result
  • About us
  • Advertise with us
  • Contact Us
  • Home
  • News
  • Newsletter
  • Submit News
  • Terms of Use

© 2023 MSME Africa - All rights reserved.