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Femi Otedola Applauds Tinubu as Dangote Refinery Begins Petrol Distribution
Ekohotblog reports that Billionaire businessman, Femi Otedola, has commended President Bola Ahmed Tinubu following the commencement of petrol loading at the Dangote Refinery.
On Sunday, the 650,000 barrels-per-day pm Lagos-based refinery started loading petrol into trucks owned by the Nigerian National Petroleum Company Limited (NNPCL), marking a significant milestone in Nigeria’s energy sector.
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NNPCL Spokesperson, Olufemi Soneye, confirmed the development, stating that the refinery sold its petrol to the company at N898 per liter, contrary to rumors suggesting a lower price of N760.
“We successfully loaded PMS at the Dangote Refinery today (Sunday). The claim that we purchased it at N760 per liter is incorrect.
For this initial loading, the price from the refinery was N898 per liter,” Soneye said during an interview with Daily Trust.
Over 70 trucks have been loaded so far, signaling the refinery’s operational readiness.
The loading operation follows the arrival of over 300 trucks at the refinery on Saturday, as NNPCL prepared to begin fuel distribution.
This marks the first major fuel distribution from the refinery, which was officially rolled out by Dangote Group President, Aliko Dangote, on September 3, 2024.
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In his reaction, Otedola, Chairman of Geregu Power and First Bank Holding, praised President Tinubu for facilitating the milestone, noting that the commencement of petrol distribution from the refinery would eliminate fuel shortages in Nigeria.
“Kudos to President Tinubu for making this a reality! Fuel queues are now a thing of the past as Dangote Refinery starts loading PMS today, Sunday, 15 September 2024,” Otedola stated.
Meanwhile, petroleum marketers have expressed optimism that Dangote Refinery’s operations may lead to a reduction in petrol prices.
However, they noted that they are yet to be informed of the final pump price for the refinery’s petrol.
The Nigerian government, through the Minister of Finance, Wale Edun, had previously announced that all agreements were finalized for NNPCL to commence lifting petrol from the Dangote Refinery on Sunday.
This development is seen as a major step towards enhancing Nigeria’s fuel supply and reducing dependency on imported petroleum products.
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