Aliko Dangote, President of the Dangote Group, has shed light on the policy governing petrol pump prices in Nigeria. According to Dangote, the Nigerian National Petroleum Corporation Limited (NNPCL) is responsible for setting these prices.
Dangote made this statement during a press conference at the Dangote Refinery in Ibeju-Lekki, Lagos State, which was held to mark the launch of Euro-V petrol.
“Pricing is controlled by NNPC; for now, our focus is on ensuring that products are available—that’s what I can guarantee,” Dangote said.
He assured that the refinery would ensure a steady supply of petrol across Nigeria. Dangote highlighted that the introduction of petrol from the refinery signifies the end of years of fuel importation.
The refinery’s success, he noted, is expected to bolster the industrial and manufacturing sectors by significantly reducing fuel imports. This reduction is anticipated to save foreign exchange, stabilize the naira, lower inflation, and decrease the cost of living.
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