Dangote Refinery: Nigerians to Enjoy Affordable Petrol as Importers Face Losses

Dangote Refinery: Nigerians to Enjoy Affordable Petrol as Importers Face Losses

The president of Dangote Refinery has assured Nigerians that locally refined fuel will provide more affordable petrol prices, even as fuel importers continue to incur losses.

Speaking during a briefing at the 650,000-barrel-per-day Dangote Refinery in Lagos on Sunday, he emphasized that consumers now have the option to buy high-quality locally refined petrol or pay higher prices for blended PMS from importers.

“Nigerians have a choice to buy better quality fuel at a more affordable price or to buy blended PMS at a higher rate. Importers can continue to lose, so long as Nigerians benefit,” he said.

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He added, “Anyone who chooses to continue importing despite the availability of locally refined products should be prepared to face the consequences.”

The refinery executive also noted that the retail fuel price nationwide should not exceed N740 per liter.

This statement follows a recent reduction of the refinery’s gantry fuel price by 15.99 percent to N699 per liter, although pump prices in Abuja remained at N905 to N937 per liter as of Sunday night.

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Dangote Refinery: Nigerians to Enjoy Affordable Petrol as Importers Face Losses