Aliko Dangote, Chairman of Dangote Industries and owner of the newly inaugurated Dangote Refinery, has announced that petrol from his refinery will be available at market filling stations within the next 48 hours. Speaking at the refinery in Ibeju-Lekki, Lagos State, Dangote revealed that the pricing for the fuel will be determined by a framework approved by the Federal Executive Council (FEC) under President Bola Ahmed Tinubu.
While Dangote did not specify the exact price of the petrol, he emphasized that the fuel’s availability depends on the Nigerian National Petroleum Company Limited (NNPC). “Our PMS (Premium Motor Spirit) can be in filling stations within the next 48 hours depending on NNPCL,” he stated.
Regarding the pricing structure, Dangote noted that it will follow an arrangement designed and sanctioned by the FEC. “It is an arrangement which is designed and approved by the Federal Executive Council led by His Excellency, President Bola Ahmed Tinubu,” he explained. He added that the finalization of the pricing is imminent, and once completed, the refinery is ready to commence distribution.
Dangote assured that the petrol, along with other products from the refinery, will meet high-quality standards comparable to those in the US and other global markets. “This is a celebration day for Nigerians,” he said, highlighting that the quality of products from the refinery will ensure that vehicles’ engines last longer without issues.
The Dangote Refinery has already begun supplying diesel and aviation fuel to marketers and will now include petrol in its offerings. This development comes in the wake of the fuel subsidy removal in May 2023, which led to a significant increase in petrol prices from less than ₦200 per litre to around ₦1,000 per litre in most Nigerian cities due to ongoing scarcity and debt owed to importers, as reported by NNPC.
The introduction of Dangote’s refined petrol is anticipated to alleviate the current fuel shortage and provide a more stable supply of high-quality fuel to the Nigerian market.
