Aliko Dangote, Chairman of Dangote Industries, has announced that petrol from the Dangote Refinery will be available in the market within 48 hours.
Speaking at the refinery in Ibeju-Lekki, Lagos State, Dangote mentioned that the pricing of the fuel would be determined by an arrangement approved by the Federal Executive Council (FEC), under President Bola Ahmed Tinubu’s leadership.
While the specific price of petrol from the refinery wasn’t disclosed, Dangote emphasized that the 650,000 barrels per day refinery is ready to supply fuel to filling stations, contingent on the Nigerian National Petroleum Company (NNPC) Limited.
He assured Nigerians of the high quality of petrol and other products from the refinery, which will match global standards, including those of the US. This, he added, would result in better fuel quality that ensures vehicle engines last longer.
The announcement follows the refinery’s initial production of diesel and aviation fuel, with petrol now being added. Since the removal of the fuel subsidy in May 2023, petrol prices in Nigeria have surged, currently selling around ₦1,000/litre in many cities due to scarcity. The NNPC attributed this shortage to a debt owed to importers.