The Dangote Group, led by Chairman Alhaji Aliko Dangote, has announced a significant reduction in the price of Diesel, also known as Automotive Gas Oil (AGO), to N1000 per litre, down from the initial price of N1,200 per litre set two weeks ago.<\/p>\n
Alhaji Aliko Dangote cited the reduction as a proactive measure to address the country’s persistent inflationary pressures. He emphasized the importance of stabilizing prices to mitigate the impact of inflation on consumers.<\/p>\n
In his statement, Dangote remarked, \u201cNow, in our refinery, we started selling diesel at about N1,200 instead of N1,650, and I\u2019m sure as we go along, things will continue to improve quite a lot.”<\/p>\n
He further elaborated, \u201cThis can help to bring inflation down immediately. And I\u2019m sure when the inflation figures are out for the next month, you\u2019ll see that there\u2019s quite a lot of improvement in the inflation rate.”<\/p>\n
Dangote acknowledged that the increase in diesel prices was influenced by the depreciation of the naira in the foreign exchange market. However, he expressed optimism that as the naira stabilizes, diesel prices will gradually decrease.<\/p>\n
Meanwhile, according to the National Bureau of Statistics (NBS) Diesel Price Watch for February 2024, the price of diesel has surged by over 50.20% year-on-year. During the same period, the average price of diesel nationwide stood at N1,257.06 per litre, with some states recording prices exceeding N1500 per litre.<\/p>\n","protected":false},"excerpt":{"rendered":"
The Dangote Group, led by Chairman Alhaji Aliko Dangote, has announced a significant reduction in the price of Diesel, also known as Automotive Gas Oil (AGO), to N1000 per litre, down from the initial price of N1,200 per litre set two weeks ago. Alhaji Aliko Dangote cited the reduction as a proactive measure to address […]<\/p>\n","protected":false},"author":27,"featured_media":27672,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[173],"tags":[],"class_list":["post-27669","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business"],"aioseo_notices":[],"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/posts\/27669","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/users\/27"}],"replies":[{"embeddable":true,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/comments?post=27669"}],"version-history":[{"count":3,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/posts\/27669\/revisions"}],"predecessor-version":[{"id":27692,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/posts\/27669\/revisions\/27692"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/media\/27672"}],"wp:attachment":[{"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/media?parent=27669"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/categories?post=27669"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/tags?post=27669"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}