News
Dangote Refinery To Set Petrol Prices From October
Bloomberg confirmed on Thursday that the Dangote Petroleum Refinery will begin determining the price of petrol starting in October.
EDITOR’S PICKS
- Police Arrest Man For Allegedly Killing Neighbour’s 4-Year-Old Daughter
- Misinformation Grinds Down Trust Between Govt, People -Minister
- UEFA To Honour Ronaldo For Record-Breaking Champions League Career
EKO HOT BLOG reports that Aliko Dangote, Chairman of Dangote Industries Limited, officially announced the commencement of petrol production at the refinery on Tuesday.
According to Dangote, the price of petrol from his refinery would initially be influenced by the Federal Executive Council (FEC) and the Nigerian National Petroleum Company (NNPCL).
However, Bloomberg reported that the federal government is considering allowing the refinery to independently set the petrol price it sells to petroleum marketers.
Sources revealed that, from next month, Nigeria plans to enable Dangote to set gasoline prices directly for marketers.
In an interview with Bloomberg, Temitope Ajayi, Senior Special Assistant to the President on Media and Publicity, stated that the refinery would not sell its products below market value, given that it is a profit-driven enterprise.
Dangote Refinery Petrol Prices
Ajayi added, “The Dangote Refinery will not sell below market price. As a private business, the NNPC or government cannot control its pricing.
FURTHER READING
- Israeli Forces Unleash Major West Bank Offensive
- FG Working on Steve Oronsaye Report – Gbajabiamila
- Police Arrest Man For Allegedly Killing Neighbour’s 4-Year-Old Daughter
“The petroleum regulator’s role will be to ensure product quality and prevent unfair pricing practices that could exploit citizens.”
Click here to watch our video of the week:
Advertise or Publish a Story on EkoHot Blog:
Kindly contact us at [email protected]. Breaking stories should be sent to the above email and substantiated with pictorial evidence.
Citizen journalists will receive a token as data incentive.
Call or Whatsapp: 0803 561 7233, 0703 414 5611
