Federal Executive Council will determine price of our petrol  – Dangote

Federal Executive Council will determine price of our petrol  – Dangote

Chairman of Dangote Industries Limited, Aliko Dangote, says the Federal Executive Council (FEC) will determine the price of petrol from his refinery.

The billionaire’s spoke on Tuesday at a press conference in Lagos after announcing the official commencement of petrol production by the refinery.

“On pricing, it is an arrangement which is designed and approved by the federal executive council (FEC) led by His Excellency, President Bola Ahmed Tinubu,” he said.

“As soon as it is finalised, which he (Tinubu) is pushing, once we finish with NNPC, it can be today, it can be tomorrow, we are ready to roll into the market.”

Dangote also said the petrol from the plant, in terms of quality, could compete with products from other refineries in the world.

Regarding the when the petrol supply would hit filling stations, he said an announcement would be made after meeting with the NNPC on Wednesday.

According to Dangote, as soon as this is finalised, “our products will start going to the market”.

“Our gasoline can be in filling stations in the next 48 hours depending on NNPC,” he said.

Dangote to supply 25-million litre petrol this month – NMDPRA 

Following the commencement of petrol production in Dangote refinery, the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) said the refinery is expected to supply 25 million litres of petrol daily in September and will subsequently increase this amount to 30 million litres daily from October.

The 650,000 bpd capacity refinery began operations in January with the production of diesel and aviation fuel.