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Aliko Dangote Unveils New Petrol Pricing Strategy as Dangote Refinery Begins Operations
Aliko Dangote Unveils New Petrol Pricing Strategy as Dangote Refinery Begins Operations....KINDLY READ THE FULL STORY HERE▶
Business mogul Aliko Dangote announced on Tuesday that the Federal Executive Council is developing a new pricing arrangement for petrol produced at the Dangote Refinery. This comes as the 650,000-barrel-per-day facility officially launched its refined petrol, with plans for the product to be available at filling stations within the next 48 hours, depending on national logistics.
While addressing the retail price of the new petrol, Dangote stated, “It is an arrangement which is designed and approved by the Federal Executive Council led by His Excellency, President Bola Ahmed Tinubu.” He emphasized the urgency of finalizing this arrangement, noting that President Tinubu is actively pushing for its completion. “Once we finish with NNPC, it can be today, it can be tomorrow; we are ready to roll into the market,” he added.
In a strategic move to stabilize petrol prices, President Tinubu previously approved the sale of crude oil to the Dangote Refinery in naira. This initiative aims to reduce the cost of domestically refined petroleum products and, according to Dangote, is expected to lower the demand for foreign exchange by 40%.
Dangote expressed gratitude towards the Nigerian people and the government, stating, “I want to salute the people of Nigeria and the government of President Bola Tinubu for creating the environment for us to thrive and also achieve this monumental goal of providing energy to our people for growth and prosperity.” He highlighted the significance of the Naira-for-crude initiative, explaining that it would bring greater stability to the Naira and significantly reduce the reliance on dollars for transactions.
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‘Misinformed’ — Ex-Lawmakers Defend Matawalle, Reject US Lawmaker’s Removal Call.
The Former Parliamentarians Forum has dismissed calls for the removal of the Minister of State for Defence, Bello Matawalle, describing such demands as misguided and lacking a proper understanding of Nigeria’s security situation.....KINDLY READ THE FULL STORY HERE▶
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‘No Automatic Ticket’ — Yilwatda Warns APC National Assembly Members Ahead 2027.
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Zone Presidency To South Or Lose It — Peter Obi Camp Warns Political Bloc.
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