Dangote Refinery Credits Naira-for-Crude Deal for Fuel Price Stability

The Dangote Petroleum Refinery has attributed its ability to reduce petrol prices to the naira-for-crude initiative, highlighting its commitment to maintaining affordability at fuel stations.

In a statement issued on Monday, the company reaffirmed its dedication to price stability despite ongoing volatility in global crude oil markets. Group Chief Branding and Communications Officer, Anthony Chiejina, emphasized that keeping fuel costs predictable aligns with Dangote Refinery’s goal of supporting Nigeria’s economy and easing financial strain on consumers.

The refinery expressed appreciation to President Bola Tinubu for the naira-for-crude policy, which has facilitated consistent price reductions. According to the company, its decision to keep prices stable underscores its determination to deliver accessible, high-quality petroleum products while ensuring operational efficiency.

Furthermore, Dangote Refinery reiterated its alignment with the Federal Government’s ‘Nigeria First Policy,’ which prioritizes domestic production. By refining petroleum products locally at its world-class facility, the company seeks to bolster Nigeria’s energy security, reduce foreign exchange dependence, and strengthen economic resilience. This initiative is in line with President Tinubu’s Renewed Hope Agenda, aimed at addressing economic challenges and enhancing citizens’ well-being.

The company assured stakeholders—including consumers, business partners, and the government—of its continued commitment to operational excellence and national service. Dangote Refinery pledged to maximize the benefits of local refining, ensuring affordability, quality, and national interest remain central to its operations.