{"id":1204,"date":"2025-04-10T17:41:03","date_gmt":"2025-04-10T17:41:03","guid":{"rendered":"https:\/\/newsreservoir.com\/lifestyle\/?p=1204"},"modified":"2025-04-10T17:58:48","modified_gmt":"2025-04-10T17:58:48","slug":"nigerians-to-expect-new-pump-price-as-dangote-refinery-slashes-petrol-loading-costs-by-n15","status":"publish","type":"post","link":"https:\/\/newsreservoir.com\/lifestyle\/2025\/04\/10\/nigerians-to-expect-new-pump-price-as-dangote-refinery-slashes-petrol-loading-costs-by-n15\/","title":{"rendered":"Nigerians to expect new pump price as Dangote refinery slashes petrol loading costs by N15"},"content":{"rendered":"

Nigerians to expect new pump price as Dangote refinery slashes petrol loading costs by N15<\/p>\n

\"\"
Aliko Muhammad Dangote<\/figcaption><\/figure>\n

Zainab Tanimu<\/p>\n

Kaduna Northwest Nigeria<\/p>\n

There is hope that Nigerians will enjoy a price drop in pump price with Dangote refinery’s downward review in loading costs. From N880 to N865.<\/p>\n

The Federal Executive Council, on Wednesday had directed the full implementation of the previously suspended Naira-for-Crude agreement with local refiners.<\/p>\n

The initiative with local refineries it described as \u201ckey policy directive designed to support sustainable local refining.\u201d<\/div>\n
<\/div>\n
The policy is not temporary but a long-term plan to cut Nigeria\u2019s dependence on foreign exchange for petroleum. It added.<\/div>\n
<\/div>\n
The Ministry of Finance disclosed this in a statement published on its official X handle titled, \u201cUpdate on the Crude and Refined Product Sales in Naira Initiative.\u201d<\/div>\n

The statement was released after a meeting held on Tuesday between the Minister of Finance, Wale Edun, and representatives from Dangote Refinery, a major beneficiary of the agreement, to review progress and address ongoing implementation matters.<\/p>\n

The statement reads, \u201cThe Technical Sub-Committee on the Crude and Refined Product Sales in Naira initiative convened an update meeting on Tuesday to review progress and address ongoing implementation matters.<\/div>\n
<\/div>\n
\u201cThe stakeholders reaffirmed the government\u2019s continued commitment to the full implementation of this strategic initiative, as directed by the Federal Executive Council.<\/div>\n
<\/div>\n
\u201cThus, the Crude and Refined Product Sales in Naira initiative is not a temporary or time-bound intervention, but a key policy directive designed to support sustainable local refining, bolster energy security, and reduce reliance on foreign exchange in the domestic petroleum market.<\/div>\n

The National Publicity Secretary of the Independent Petroleum Marketers Association of Nigeria, Chinedu Ukadike speaking on the Federal Executive Council\u2019s directive with regards to the naira-for-crude agreement had assured the public of the price drop.<\/p>\n

Dangote refinery had notified its marketers and customers of a reduction in its price of Premium Motor Spirit (PMS) popularly called petrol through a notice sent on Thursday morning, which was also seen by reporters and confirmed through\u00a0 petroleumprice.ng.<\/p>\n","protected":false},"excerpt":{"rendered":"

Nigerians to expect new pump price as Dangote refinery slashes petrol loading costs by N15 Zainab Tanimu Kaduna Northwest Nigeria There is hope that Nigerians will enjoy a price drop in pump price with Dangote refinery’s downward review in loading costs. From N880 to N865. The Federal Executive Council, on Wednesday had directed the full […]<\/p>\n","protected":false},"author":2,"featured_media":1208,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[7],"tags":[],"class_list":["post-1204","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/newsreservoir.com\/lifestyle\/wp-json\/wp\/v2\/posts\/1204","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/newsreservoir.com\/lifestyle\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/newsreservoir.com\/lifestyle\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/newsreservoir.com\/lifestyle\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/newsreservoir.com\/lifestyle\/wp-json\/wp\/v2\/comments?post=1204"}],"version-history":[{"count":5,"href":"https:\/\/newsreservoir.com\/lifestyle\/wp-json\/wp\/v2\/posts\/1204\/revisions"}],"predecessor-version":[{"id":1216,"href":"https:\/\/newsreservoir.com\/lifestyle\/wp-json\/wp\/v2\/posts\/1204\/revisions\/1216"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/newsreservoir.com\/lifestyle\/wp-json\/wp\/v2\/media\/1208"}],"wp:attachment":[{"href":"https:\/\/newsreservoir.com\/lifestyle\/wp-json\/wp\/v2\/media?parent=1204"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/newsreservoir.com\/lifestyle\/wp-json\/wp\/v2\/categories?post=1204"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/newsreservoir.com\/lifestyle\/wp-json\/wp\/v2\/tags?post=1204"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}