There appear to be so much drama in the Dangote Refinery and the NNPC agreed price for petrol. 

Now, Aliko Dangote, Africa’s wealthiest man, is saying that the petrol from his Refinery is 15% cheaper than NNPCL’s imported fuel.

This comes amidst rising price of goods and services across Nigeria.

He explained that even with NNPCL’s lifting price of ₦898 per liter on September 15, 2024, his refinery offers a more affordable solution.

Aliko Dangote, the president of the Dangote Group and Africa’s richest man, recently shared this surprising news.

During an interview with Bloomberg Television, he announced that the petrol from his Dangote Refinery was 15% cheaper.

This price is lower than the fuel imported by the Nigerian National Petroleum Company Limited (NNPCL).

This announcement came after NNPCL raised its petrol prices across Nigeria to between ₦950 and ₦1,100 per liter.

The increase caused confusion within the oil sector.

On September 15, 2024,the NNPCL had set a price of ₦898 per liter for locally made petrol.

Despite this, Dangote’s refinery still managed to offer a more affordable price.

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He went on to explain that when the NNPCL purchased petrol from his refinery, it also imported about 800,000 metric tons of gasoline at the same time.

According to Dangote, the fuel produced by his refinery remains cheaper than the imported fuel.

He emphasised that there wasn’t a disagreement with NNPCL, but rather, their purchase from his refinery was made at the international price.

Dangote also criticsed NNPCL’s recent price announcement, suggesting that what they declared likely included their profits and other additional expenses.

With this clarification, he highlighted that his refinery provides a more cost-effective option for petrol consumers across Nigeria.