Nigeria’s Dangote Refinery has reduced the ex-depot price of petrol to N825 ($0.55) per litre from N835, the company said on Sunday, a move that could help ease fuel costs in Africa’s largest economy.
The price cut, which takes effect immediately, comes as Nigeria grapples with inflationary pressures and efforts to stabilise domestic fuel supply following the removal of petrol subsidies last year.
Industry analysts say the reduction could lead to a drop in pump prices if marketers pass on the savings to consumers, though the extent of the impact remains uncertain.
