Petrol
Dangote Unveils Petrol Price, Pledges to End Fuel Scarcity Within 48 Hours
Aliko Dangote, owner of the Lagos-based Dangote Refinery, announced on Tuesday that petrol produced at his 650,000 barrels per day facility will hit the market within 48 hours, pending finalization of modalities with the Nigerian National Petroleum Company Limited (NNPCL).
When asked about pricing, Dangote stated that it has been arranged and approved by the Federal Executive Council, led by President Bola Ahmed Tinubu. He assured that the quality of the petrol will match global standards, ensuring longer engine life and no engine issues.
Dangote’s refinery, which commenced operations in December with 350,000 barrels a day, aims to reach full capacity by year-end. The refinery has already begun supplying diesel and aviation fuel to marketers and will now add petrol to its offerings.
This development comes as Nigeria faces energy challenges, with all state-owned refineries non-operational and a heavy reliance on imported refined petroleum products. Fuel queues are common, and prices have tripled since the subsidy removal in May 2023, exacerbating citizens’ woes.
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Dangote’s entry into the market is expected to bring relief, with the promise of high-quality petrol and increased supply.
