Aliko Dangote, Nigeria’s leading businessman, has revealed who will determine the retail price of petroleum products from his refinery.
On Tuesday, Sepember 3, Dangote said that the Nigerian government, under President Bola Tinubu, will set the price for petroleum products from his Lagos State refinery.
About Dangote Oil Price
Dangote shared this information while unveiling his product, promising that his refinery would resolve the fuel scarcity issue in Nigeria.
Regarding oil retail prices, Dangote explained: “It is an arrangement which is designed and approved by the Federal Executive Council led by President Bola Tinubu”.
He added: “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”.
Current Price Of Fuel
Meanwhile, there are reports that fuel stations owned by the Nigerian National Petroleum Company Limited (NNPC) had raised the fuel price to over ₦850 per litre.
This is coming ahead of the anticipated in-flow of Dangote petroleum products.
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The increase followed an NNPC management directive that raised the official fuel price from ₦568 to ₦855.
Another finding is that fuel stations in Ilorin, Kwara State, had complied with the directive.
One NNPC station in Adewole Area of Ilorin is now selling fuel at ₦877 per litre.
Also, a viral photo of an NNPC station in Lagos showed full compliance with the new price of ₦855.
A video on X showed Nigerians expressing frustration over the new price.
“Fuel price is ₦855 at NNPC station in Ikoyi area (Lagos State),” a customer said in the video.
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