Aliko Dangote has refuted the claims about the pricing of fuel supplied to the Nigerian National Petroleum Company (NNPC). According to him, petrol from his refinery is sold at a price significantly lower than the imported fuel. Dangote stated that fuel from his facility, which started production on September 15, is 15% cheaper than NNPC’s imported gasoline. He emphasized that NNPC’s claim of purchasing at N898 per liter was misleading, as the actual price was lower, and the cost inflation was due to additional factors like exchange rates and profit margins applied by NNPC.
Furthermore, Dangote highlighted that his refinery’s pricing structure is influenced by international crude prices and the fact that crude oil is purchased in dollars. He also noted that, with the refinery’s operation, Nigeria could reduce its dependency on imported fuel, thus easing pressure on the naira. The Dangote Group continues to advocate for governmental support, such as pegging the exchange rate to stabilize fuel prices.
