The long-anticipated commencement of operations at the Dangote refinery has stirred up conversations about the potential effects on fuel prices in Nigeria. Petroleum product retailers are now shedding light on what Nigerians can expect in the near future.
In a recent exclusive interview with Media Talk Africa, Billy Gillis-Harry, the President of Petroleum Products Retail Outlets Owners Association (PETROAN), emphasized the likelihood of a reduction in fuel prices as a significant benefit resulting from the Dangote refinery’s operations. He expressed that it would be surprising if the domestic refineries’ activities did not impact the price of fuel, stating, “Common sense dictates that the in-country’s refining capacity should impact the price of the products.”
Gillis-Harry underscored the potential cost implications when importing petroleum products and highlighted the positive correlation between enhanced refining capacity and consumer prices. He further anticipates a palpable reduction in fuel costs for Nigerians once the Dangote refinery’s products enter the market. While he refrained from speculating on the exact price reduction, he firmly conveyed his belief that consumers should expect to pay less for fuel.
The eagerly awaited promise of Dangote refinery’s petroleum products hitting the market in the coming months has kindled optimism among Nigerians. Gillis-Harry’s insightful comments serve as a beacon of hope, emphasizing the tangible benefits that could materialize from the refinery’s operations.
As Nigerians eagerly anticipate the potential relief at the pump, the evolving landscape of the nation’s fuel industry is poised to reflect the impact of Dangote refinery’s production. The future fuel price trajectory stands as a pertinent issue, and the insights from the petroleum retailers signal a potential positive shift in the country’s energy dynamics.
