Dangote Refinery to Roll Out Petrol in 48 Hours, Price to be Determined by Federal Executive Council
Aliko Dangote, the President of the Dangote Group, has announced that his refinery’s Premium Motor Spirit (Petrol) will be available in filling stations within the next 48 hours, pending talks with the Nigerian National Petroleum Company Limited (NNPCL). In an interview with Channels Television, Dangote revealed that the price of the petrol will be determined by the Federal Executive Council (FEC) headed by President Bola Ahmed Tinubu.
Dangote’s $20 billion refinery has the capacity to produce 650,000 barrels of petrol per day, and the African richest man is keen to get the product to Nigerian consumers as soon as possible. According to Dangote, the FEC has approved the arrangement for determining the price of the petrol, and once finalized, the product will be ready for rollout in the market.
"We are pushing to finalize the talks with the NNPCL to get the product across to Nigerians," Dangote said. "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 finalized, 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."
The rollout of the Dangote refinery’s petrol is a significant development for the Nigerian energy sector, and consumers are eagerly awaiting the arrival of the product. With the price yet to be determined, the market is holding its breath to see how this new development will impact the already competitive petrol market in Nigeria.
