Aliko Dangote, who heads the Dangote Group, has announced that petrol from his company’s new refinery could be available to Nigerian consumers within two days, contingent on coordination with the Nigerian National Petroleum Company Limited (NNPCL).
In a televised interview with Channels TV on Tuesday, Dangote officially declared the commencement of petrol production at his massive 650,000 barrels-per-day refinery located in Lagos. This $20 billion facility is on the verge of concluding negotiations with NNPCL to distribute its product throughout Nigeria.
Regarding the pricing of the petrol, Dangote clarified that this decision would ultimately rest with President Bola Ahmed Tinubu’s administration and the Federal Executive Council. The African business magnate refrained from specifying a price point, indicating that it’s a matter for governmental determination.
This announcement marks a significant milestone for Nigeria’s oil industry and could potentially impact the country’s fuel supply dynamics in the near future.
“The PMS can be on filling stations in the next 48 hours, depending on NNPCL.
“On PMS price, it is an arrangement that is designed and approved by the Federal Executive Council led by His Excellency, President Bola Ahmed Tinubu. As soon as it is finalised, which is what he is pushing once he finishes with FEC meeting, it can be today or tomorrow we are ready to roll out in the market,” he said.