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Aliko Dangote
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Bismarck Rewane, the Managing Director/CEO of Financial Derivatives Company (FDC), has projected that the petrol price hike cost Nigerians N5 trillion.
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The Nigerian government has stated that billionaires Aliko Dangote and Femi Otedola could not acquire the Port Harcourt refinery due to opposition from labour unions
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Oil marketers are concerned that the rising landing cost of imported petrol, now at N1,120 per litre, might push Dangote Refinery's pricing to a similar level.
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The Dangote Refinery, which recently unveiled its petrol, may export the product following the refusal of NNPC to distribute the product in the local market.
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The Dangote Refinery will begin the production of polypropylene, an essential product in packaging and plastic manufacturing, to end Nigeria's dependence on imports
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Dangote Cement has initiated plans to open a multi-million naira skills acquisition centre to train Nigerian youths and facilitate industrialisation nationwide.
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Independent marketers have disclosed that they may be forced to abandon petrol from the Dangote refinery and opt for imports as talks between Dangote and NNPC drag.
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The Nigerian National Petroleum Company Limited (NNPC), has said the Dangote Refinery and others can now sell petrol directly to marketers as it is a free market.
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Dangote Group, owned by Africa's richest man, Aliko Dangote, has been lauded for its support for host communities as economic hardship bites harder.
Aliko Dangote
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