Naira Increases
Dangote Diesel To N1,100/Litre.
Price of Automotive Gas Oil, popularly called
diesel, produced by the Dangote Petroleum Refinery has increased from
N940/litre to N1,100/litre due to the crash of the naira against the United
States dollar.
This is coming after the Dangote refinery
declared a further reduction in the prices of diesel and aviation fuel to
N940/litre and N980/litre respectively.
In about a week, the multi-billion dollar
facility again announced another reduction in the price of AGO but noted at the
time that the change was only applicable to dealers purchasing up to five
million litres of diesel and above.
Oil marketers said, the hike in diesel price
by the $22 billion dollars’ worth refinery located in Epe, Lagos, and referred
it to the recent southward movement of the naira against the dollar.
The apex bank in March said, it had
successfully resolved all valid foreign exchange backlogs, as pledged by the
CBN Governor, Olayemi Cardoso, while, addressing inherited claims amounting to
$7 billion dollars.
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