Aliko Dangote, President of the Dangote Group, has stated that the pricing of petrol from his new refinery will be determined by Nigeria’s Federal Executive Council (FEC), led by President Bola Ahmed Tinubu.
In an interview with Channels Television, Dangote made this announcement following the launch of petrol production from his 650,000-barrels-per-day refinery on Tuesday. He indicated that the new petrol supply will be available at filling stations within 48 hours, contingent on arrangements with the Nigerian National Petroleum Company Limited (NNPCL).
Dangote revealed that discussions are nearing completion between the $20 billion refinery and NNPCL to ensure a smooth distribution of the product to Nigerians. He emphasized that the final pricing of the petrol will be decided by the FEC.
“Regarding the price of Premium Motor Spirit (PMS), it will be set by the Federal Executive Council, under the leadership of President Bola Ahmed Tinubu. Once the FEC finalizes the arrangement—possibly today or tomorrow—we will be ready to roll out the product in the market,” Dangote explained.
The official announcement of the petrol rollout was made by Dangote on Tuesday.
