According to a report from Nigerian Presidency has clarified that the Dangote Refinery will not sell its products, including Premium Motor Spirit (PMS), below the official market price.…..For More READ THE FULL ARTICLE HERE ▶▶...CLICK HERE TO CONTINUE READING.>>
On Tuesday, Aliko Dangote, Chairman of the Dangote Group, officially announced the commencement of petroleum production at his long-awaited refinery.
Thank you for reading this post, don't forget to subscribe!This marks a significant milestone in Nigeria’s energy sector.
During the announcement, Dangote disclosed that the pricing of refined petroleum products would be determined through a collaborative process involving the Federal Executive Council (FEC) and the Nigerian National Petroleum Company (NNPC) Limited, emphasizing the government’s regulatory role and NNPC’s industry expertise.
Earlier reports from SaharaReporters indicated that NNPC-owned filling stations across Nigeria had raised fuel prices significantly, with prices exceeding N850 per litre.
Investigations revealed that this increase followed a directive from NNPC management to raise the official fuel price from N568 to N855 per litre, impacting consumers and the broader economy.
Moving forward, petrol marketers will be able to purchase products directly from the Dangote Refinery.
Commenting on the development, Temitope Ajayi, Senior Special Assistant to President Bola Tinubu on Media and Publicity, stated, “The Dangote Refinery, being a profit-driven private business, will not sell its products below market value.”
Ajayi further noted, “I don’t see how NNPC or the federal government will control pricing for a private business.
The role of the petroleum industry regulator will be to ensure product quality and fair pricing, preventing the business from exploiting consumers.”…..For More READ THE FULL ARTICLE HERE ▶▶
