Dangote Confirms Exact Dates To Begin Sale of Petrol, Reacts To Monopoly Allegations
- The President of Dangote Industries, Aliko Dangote, has announced the date for petrol production from the refinery
- Dangote said petrol production has already begun, and very soon, Nigerians will start to enjoy the product
- Nigerians are hopeful that when the refinery kicks off sale to marketers, it will help reduce the price of petrol at filling stations
Africa's richest man, Aliko Dangote, said that Premium Motor Spirit (PMS), commonly known as petrol, will be ready at the Dangote refinery between 10th and 12th August 2024.
He stated this when he spoke to journalists while reacting to various allegations from the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) and monopoly reports.
Source: Getty Images
Earlier, Legit.ng reported that the Dangote Refinery set July 10–15, 2024, as the dates for supplying petrol products to the Nigerian market.
Dangote explained that the July schedule was missed due to a fire incident at the refinery, which delayed production.
Dangote said:
By the grace of God, Premium Motor Spirit was supposed to be available this July, but the fire incidents disrupted us for a few days. However, by the latest, the 10th or 12th of August, PMS will be ready."
Dangote has consistently said that the refinery has everything to stop the importation of petrol in August and end fuel scarcity.
Dangote speaks on monopoly allegations
Responding to journalists, Africa's richest man also addressed the allegation of monopoly.
His words:
"If you question whether Dangote alone can supply the market, are you implying that the N4bn spent by the NNPC to reactivate refineries in Kaduna, Warri, and Port Harcourt is wasted? Are these refineries not going to operate?
"They have announced an activation date. With these refineries in place, we cannot be a monopoly because we are not the sole supplier; in fact, they are more influential than us. Therefore, it is impossible for us to hold a monopoly—it simply cannot happen."
Filling stations may adjust fuel pumps
In related news, Legit.ng reported that the price that marketers must pay to import one litre of petroleum from refineries overseas has increased to N1,117/litre.
The Major Energies Marketers Association of Nigeria (MEMAN) revealed the new fuel landing cost to the press on Wednesday, July 17.
In Nigeria, product costs, dealer and insurance margins, shipping costs, government agency fees, finance and banking fees, and storage fees are the main elements that make up the cost of landing gasoline.
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Source: Legit.ng
