Aliko Dangote, president of the Dangote Refinery, announced that Nigerians can now choose between high‑quality, locally refined petrol at a lower price and blended imported fuel at a higher cost. The refinery’s expanding production capacity is giving consumers a clear option: affordable, locally refined petrol or the more expensive blended premium motor spirit (PMS) supplied by importers.
Speaking at a briefing at the 650,000‑barrel‑per‑day facility in Lagos, Dangote warned that fuel importers who continue to import despite sufficient local supply may incur losses and should be prepared to face the consequences of their decisions. He emphasized that the retail price of petrol should not exceed N740 per litre nationwide.
The refinery recently reduced its gantry price by 15.99 percent to N699 per litre. Nevertheless, as of Sunday night, pump prices in Abuja remained between N905 and N937 per litre. Dangote’s comments underscore the refinery’s growing impact on Nigeria’s fuel market, offering a more affordable and higher‑quality alternative to imported fuel.
The increased production capacity is expected to lower fuel prices further and improve overall petrol quality, providing relief to consumers and supporting economic growth. As the refinery continues to expand, the trend toward cheaper, locally refined petrol should strengthen, benefiting the Nigerian economy.
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