Dangote Petroleum Refinery has stated that its naira-for-crude oil arrangement has enabled it to lower the price of petrol, resulting in reduced pump prices for consumers.

The company in a statement signed by its Group Chief Branding and Communications Officer, Anthony Chiejina, on Monday, affirmed its commitment to keeping petrol prices affordable and stable, despite ongoing fluctuations in global crude oil markets.

It said the decision to maintain price stability reflects its strong commitment to supporting the Nigerian economy and easing the burden on consumers amid rising fuel prices.

“We are immensely grateful to President Bola Tinubu for making this possible through the commendable naira-for-crude initiative, which has enabled us to consistently reduce the price of petroleum products for the benefit of all Nigerians,” the statement stated.

The refinery stated that the decision to maintain stable prices despite fluctuations in crude oil prices highlights the company’s commitment to offering affordable, reliable, and high-quality petroleum products, while ensuring operational efficiency and sustainability.

“Our approach aligns with the objectives of the Federal Government’s ‘Nigeria First Policy’, which promotes the prioritisation of locally-produced goods and services.

“By refining petroleum products domestically at the world’s largest single-train refinery, we are proud to make a substantial contribution to Nigeria’s energy security, foreign exchange savings, and overall economic resilience—aligning with President Bola Tinubu’s Renewed Hope Agenda, which is focused on addressing the nation’s economic challenges and improving the well-being of Nigerians,” the statement said.

The company assures all stakeholders—consumers, partners, and the government—of its continuous dedication to operational excellence and national service.

“Dangote Petroleum Refinery remains committed to ensuring that the benefits of our local refining capacity are fully realised and enjoyed by the Nigerian populace. We will continue to prioritise affordability, quality, and national interest in every facet of our work,” the statement added.