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Dangote Speaks on petrol price as refinery begins production

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Aliko Dangote, on Tuesday, spoke on pricing for petrol produced at his 650,000 barrels per day facility.

The refinery owner said as soon as his company finalises modalities with the Nigerian National Petroleum Company Limited (NNPCL), the product will hit the market.

“Our PMS (Premium Motor Spirit) can be in filling stations within the next 48 hours depending on NNPCL,” he said.

Asked to speak on the pricing of petrol from his refinery, Dangote said, “It is an arrangement which is designed and approved by the Federal Executive Council led by His Excellency, President Bola Ahmed Tinubu.

“As soon as it is finalised, which he (Tinubu) is pushing, once we finish with NNPC, it can be today, it can be tomorrow, we are ready to roll into the market.

“It’s a celebration day for Nigerians because we are now going to have good petrol while the engines of your vehicles will last longer. You will not be having an engine issue, which a lot of us were having. It won’t happen at all”.

“The quality here will match that of anywhere in the world; US, America, we will make sure that nobody will beat us in terms of quality,” Dangote said.

The Dangote Refinery, a $20 billion project spearheaded by billionaire Aliko Dangote, officially begun petrol production on Tuesday.

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Dangote refinery: Naira transaction for PMS to begin October 1st – NNPC

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September 16, 2024

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The Nigerian government has announced that it will begin paying Dangote Refinery in Naira for petrol supply starting October 1st.

This decision was made after a meeting with the Implementation Committee on the Naira crude oil sale.

The government also disclosed that the Dangote Refinery and other local refiners in Nigeria will begin to buy crude oil from the Nigerian National Petroleum Company (NNPC) Limited on October 1, 2024.

The NNPC will supply approximately 385,000 barrels per day of crude oil to the Dangote Refinery, which will be paid for in Naira.

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Dangote Refinery plans sea transport for 75% of local supply, targeting Warri, Port Harcourt, and Calabar

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September 16, 2024

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Dangote Refinery has announced plans to transport 75% of its local petroleum product supply via sea routes, targeting key locations like Warri, Port Harcourt, and Calabar.

This shift to sea transportation aims to reduce the higher costs associated with road distribution.

The refinery has the capacity to load 83% of its products by road, but it is ramping up efforts to evacuate nearly all production by sea.

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“Lagos: N950/l, Borno: N1,019/l” – NNPC announces increase in the pump price of petrol at filling stations nationwide.

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September 16, 2024

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The NNPC has announced an increase in the pump price of petrol at filling stations nationwide, with prices varying by location .

In Lagos, the price has been increased to N950 per liter, while in Borno, it has been increased to N1,019 per liter.

The price increase is due to several factors, including the global increase in crude oil prices, the removal of fuel subsidies, and exchange rate fluctuations.

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