The Nigerian business morgue and African richest man Aliko Dangote has reiterated the ability of his refinery to pull down the present high cost of diesel also know as Automotive Gasoline Oil (AGO) in Nigeria which its resultant effect will bring succor to present inflation woes beig experience in the country.

The chairman of Dangote Group made this assertion to the state house news team during his visit to the Nigerian President H.E Bola Tinubu in honour of celebrating the Islamic festive ceremony Eid-El-Fitr with him in his residence in Lagos Nigeria.

He expressed his optimism on the nation’s present economic space, citing emphasis on current naira exchange rate which has appreciated significantly in recent months, declining from around N1,900 to the dollar to the current level of N1,100.

The Oil Magnet further disclosed that before Dangote refinery came onstream, the cost of parallel and previous market price of diesel was between N1,650 and N1,700 but now his refinery has been selling diesel at 1,200 naira per liter which is far below old cost of diesel and this has help in reducing the cost pulled inflation in Nigeria.

But in an unprecedented move, Dangote Petroleum Refinery has announced a further reduction of the price of diesel from 1200 to 1,000 naira per litre. The recent further reduction in price was disclosed in its official facebook page.

The company stated that while rolling out the products, the refinery has supplied at a substantially reduced price of N1,200 per litre three weeks ago, representing over 30 per cent reduction from the previous market price of about N1,600 per litre.

“This significant reduction in the price of diesel, at Dangote Petroleum Refinery, is expected to positively affect all the spheres of the economy and ultimately reduce the high inflation rate in the country.” Dangote posited