Dangote Petroleum Refinery & Petrochemicals has announced its commitment to maintaining stable petrol prices in Nigeria despite ongoing fluctuations in global crude oil markets. The announcement was made in an official statement released on Monday by the refinery's spokesperson, Anthony Chiejiena.

The statement comes at a time when crude oil prices have dwindled to between $63 and $65 per barrel globally, while local petrol prices in Nigeria currently range from N910 to N930 per litre nationwide.

The 650,000 barrels per day refinery emphasized its dedication to easing the burden of fuel costs on Nigerian consumers, aligning with President Bola Ahmed Tinubu's recently approved Nigeria First Policy.

"This decision reflects our unwavering commitment to supporting the Nigerian economy and alleviating the burden on consumers from the increase in fuel prices by maintaining price stability," the statement read.

The refinery further stated that its approach is in harmony with the federal government's policy promoting prioritization of locally produced goods and services. As the world's largest single-train refinery, Dangote aims to make a substantial contribution to Nigeria's energy security, foreign exchange savings, and overall economic resilience.

The company expressed gratitude to President Tinubu for enabling consistent price reductions through the Naira-for-Crude Initiative, which has allowed the refinery to offer more affordable petroleum products to Nigerians.

"We assure all stakeholders—consumers, partners, and the government—of our continued dedication to operational excellence and national service," the statement continued. "Dangote Petroleum Refinery remains committed to ensuring that the benefits of our local refining capacity are fully realised and enjoyed by the Nigerian populace."

The refinery's commitment comes as a potential relief to Nigerian consumers who have faced significant increases in fuel prices in recent years. By maintaining price stability despite global market volatility, the Dangote Refinery aims to contribute to economic stability and support President Tinubu's Renewed Hope Agenda, which focuses on addressing the nation's economic challenges and improving citizens' well-being.

The development is particularly significant as it follows President Tinubu's recent approval of the Nigeria First Policy and restrictions on certain foreign goods, measures designed to strengthen domestic production and reduce dependency on imports.