Aliko Dangote, chairman of Dangote Industries, announced that petrol from his refinery would be available in markets within the next 48 hours. Speaking from the refinery in Ibeju-Lekki, Lagos, Dangote mentioned that the pricing for the fuel would be determined by an arrangement approved by the Federal Executive Council, led by President Bola Ahmed Tinubu. While the exact price is yet to be finalized, Dangote assured that the refinery is ready to supply the market.
Dangote emphasized that the fuel quality from the refinery would be top-notch, matching global standards, including those of the U.S. He expressed optimism that Nigerians would benefit from better fuel, which would prolong vehicle engine life and reduce common engine issues. The refinery has already begun supplying diesel and aviation fuel, and with the addition of petrol, it aims to address the current fuel scarcity in Nigeria.
Since the removal of the fuel subsidy in May 2023, petrol prices have soared, reaching around ₦1,000 per litre in many cities. The Nigerian National Petroleum Company (NNPC) Limited has attributed the current scarcity to debts owed to importers, but the Dangote Refinery’s production is expected to ease the situation and stabilize supply.