The Dangote Petroleum Refinery has attributed recent reductions in petrol prices to the naira-for-crude arrangement, which has allowed the company to lower costs at the pump despite fluctuations in global crude oil prices.

In a statement released on Monday and signed by Group Chief Branding and Communications Officer Anthony Chiejina, the company emphasized its commitment to keeping petrol prices stable and affordable for Nigerians.

“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 said.

Dangote Refinery explained that maintaining price stability amid global crude price changes reflects its dedication to providing reliable, 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,” the statement added.

The company highlighted its role as the world’s largest single-train refinery, noting that domestic refining supports Nigeria’s energy security, foreign exchange savings, and economic resilience. This aligns with President Tinubu’s Renewed Hope Agenda aimed at addressing the country’s economic challenges and improving citizens’ welfare.

Dangote Petroleum Refinery affirmed to its stakeholders—comprising consumers, partners, and the government—its unwavering commitment to operational excellence and service to the nation.

The refinery reiterated its dedication to fully realizing and extending the benefits of its domestic refining capacity to the Nigerian populace, concluding that it will continue to prioritize affordability, quality, and national interest in all aspects of its operations.