Dangote Refinery Reduces Petroleum Price.

[Jubilee58]

This news was broadcasted by naijanews. Dangote Petroleum Refinery cut its ex-gantry petrol price by ₦25 per litre, reducing it from ₦1,350 to ₦1,325 per litre.
The refinery’s cut followed a drop in crude prices, with Brent at $100.40 per barrel, down 3.34 per cent, and WTI at $92.40, down 3.83 per cent.
Petroleumprice.ng data showed Warri and Port Harcourt depots sold near ₦1,330 and Calabar at ₦1,327, while Lagos depots stayed higher at ₦1,351 per litre.
The Dangote Petroleum Refinery has reduced its ex-gantry price of Premium Motor Spirit, popularly known as petrol, by ₦25 per litre, barely nine days after raising it by ₦85.

Here is the link to the news: Dangote Refinery Reduces Petrol Price — https://9ja.news/t5jqNx

This slight changes or reduction in petroleum price does not make any significant impact in the petroleum price, and how it changes cost of transportation in the country. The only active Refinery in Nigeria now remains the Dangote Refinery, and all other refineries are not making any fuel production. At present both port Harcourt Refinery, warri, and Kaduna Refinery are under rehabilitation, and are at the point of partnership with some foreign companies, and until they begin to work in their full capacity fuel sales, and price will still be influenced by Dangote.
The high cost of fuel has been the reason for many economic instabilities because as fuel price increases, so the cost of goods, and other commodities also increases. All this small small price reduction can not make any positive impact as the price of high cost of fuel is part of the unfavorable economy we face in Nigeria.

What is your take on this ?

[devouring-DARKNESS]

Maybe move this to politics and society.
Fuel price is also being influenced petroleum war happen in the middle east, it doesn't matter whether we are producing or not.
Dongote doesn't have a monopoly on the petroleum market in Nigeria, If he did then he would have been in a position to decide what petroleum products are sold for in this country and that would really be bad news for us.

The cut in price is a good thing though, we might not see an immediate effect on our daily lives but it at least shows that there is still room for th price or be cut down even more in the near future, and if/when the other refineries are operational we will see better product pricing but for now let's just look one with hope.

[Thewatchman]

Reducing fuel price has been one of the factors influencing good transportation and other commercial activities making it conducive for business to be carried out. Dangote plan is to make fuel price reduce so that it can be affordable for consumption, when the price of fuel is very high it affects almost every factors of the country making it difficult in relation to other activities in the country.

Dangote plan to reduce fuel prices might backfire in due time because of lack of stability from the refinery producing this gas for consumers. If they cannot put a fixed bug attainable amount for supply then it will affect the demand whereby creating mistrust among millions of Nigerian which is very dangerous when trying to build a private to support the government.