Chairman of Dangote Group, Aliko Dangote, has revealed that the price of petrol from his newly completed refinery will be determined by the Federal Executive Council (FEC), led by President Bola Ahmed Tinubu.
Dangote made this disclosure at a briefing in Lagos, stating that the pricing arrangement is designed and approved by the FEC.
He also expressed readiness to roll out petrol from the refinery into the market, pending finalization of arrangements with the Nigerian National Petroleum Company (NNPC). According to Dangote, the petrol from his refinery can compete with products from other refineries worldwide in terms of quality.
Meanwhile, Chairman of Geregu Power, Femi Otedola, has praised Dangote for making petrol refining possible in Nigeria, predicting a transformative impact on the fuel import sector similar to Dangote’s earlier revolution in the cement industry.
Otedola also commended Dangote for delivering a decisive blow to local cabals who have profited from Nigeria’s dependence on foreign fuel.
