National Wire About Nigerians, Nigerian Business and Other Stories
Dangote Petroleum Refinery & Petrochemicals has reassured Nigerians of its commitment to maintaining energy stability despite the recent shocks in the international oil market.
The refinery’s management stated that it will prioritize supply to the domestic market, shielding Nigeria from global supply disruptions.
The ongoing conflict in the Middle East has led to refinery shutdowns and production cuts worldwide, causing a global scarcity of petroleum products.
In response, Dangote Refinery has implemented a measured price adjustment of N100 per litre, absorbing 20% of the cost escalation to cushion the domestic market.
Global crude prices rose by 26% to above $84 per barrel, impacting Nigerian crude oil prices. Local refining reduces exposure to international supply disruptions and moderates foreign exchange demand.
Dangote Refinery sources crude at international market prices, ensuring sustainability and uninterrupted supply.
The refinery is accelerating Compressed Natural Gas-powered trucks to enhance distribution efficiency and reduce logistics costs.
