Aliko Dangote, chairman of the Dangote Group, assured that the Dangote Refinery will continue to sell premium motor spirit—commonly known as fuel—at a reasonable price. He made the statement after meeting President Bola Tinubu at the State House in Abuja. Dangote explained that competitive pricing is necessary to contend with imports, even though smuggling remains widespread in the region. He noted that fuel prices in Nigeria are roughly 55 % of those in neighboring countries, creating a lucrative market for smugglers.
The refinery, which produces diesel, aviation fuel, and petrol, aims to offer these products at competitive rates. Dangote emphasized that the refinery’s objective is not to generate quick profits but to make a long‑term investment that leaves a lasting legacy for Nigeria’s development. The 650,000‑barrel‑a‑day facility began production in January 2024 and started delivering petrol in September 2024. Built at an estimated cost of $20 billion, the refinery represents a major development for an oil‑rich country that frequently experiences gasoline shortages.
During the meeting with President Tinubu, the discussion covered the economy, the environment, and other key issues. Dangote described the encounter as “nice and fruitful.” He reiterated that he is not focused on recouping his investment rapidly; instead, he prioritizes the refinery’s role in meeting Nigeria’s energy needs. The Dangote Refinery’s commitment to providing fuel at reasonable prices is expected to positively impact the Nigerian economy, especially amid ongoing challenges related to fuel shortages and smuggling. As the refinery continues operating, its contribution to the country’s energy sector will be closely monitored.
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