JUST IN: Dangote refinery slashes petrol price again, now N835/litre

 By Eniola Ajose 

Fresh from implementing a N15 price reduction in its loading cost for Premium Motor Spirit, also known as petrol, the Dangote refinery has again slashed its refined products prices to make them cheaper, cutting its ex-depot rate to N835 per litre.

The new price is a reduction of N30 from N865 per litre implemented six days ago, marking a 3.5 per cent decrease and N45 from N880 per litre sold by the facility last Wednesday.

This price slash also marks Dangote’s third downward adjustment in under six weeks.

PUNCH Online gathered that the refinery informed its customers in a notice sent out on Wednesday morning.

It said the new price is inclusive of the Nigerian Midstream and Downstream Petroleum Regulatory Authority charges.

On Wednesday, PUNCH Online hinted at a possible price slash after the landing cost of imported petrol dropped to N853 per litre on Tuesday.

Electricity Tariff: Ikeja Electric Slashes Electricity Tariff For Customers

 AgegePulse Magazine

The Ikeja Electricity Distribution Company (IKEDC) has downwardly reviewed and slashed the tariff to N206.80 per kilowatt-hour from the previously approved N225/kWh by the Nigerian Electricity Regulatory Commission (NERC).

According to the spokesperson, IKEDC,  Olufadeke Omo-Omorodion, conveyed this information in a notice on Monday.

In the notice, the IKEDC outlined that the revised tariff for Band A customers would come into effect from Monday, May 6, 2024. While assuring a minimum of 20-hour daily power supply for customers on Band A feeders, the DisCo clarified that the tariffs for customers on other bands remain unchanged.

"Dear Esteemed Customers, please be informed of the downward tariff review of our Band A feeders from N225/kWh to N206.80/kWh effective 6th May 2024 with guaranteed availability of 20-24hrs supply daily. The tariff for Bands B, C, D, and E remains unchanged,” the IKEDC stated.

Previously, on April 3, the NERC had revised the electricity tariff for Band A customers from N68 per kilowatt-hour to N255/KWh, exempting other customers from the tariff hike. However, consumers in the Band A category had expressed dissatisfaction with the increase, urging the Federal Government to reconsider the policy.

In a related development, during an investigative hearing before the Senate Committee on Power last week Monday, the Minister of Power, Adebayo Adelabu, cautioned that failure to implement the electricity tariff hike could lead to a total blackout in the country within the next three months.