Dangote refinery to determine petrol price from October — Report

Dangote Petroleum Refinery will play a key role in determining the price of petrol in Nigeria from October, a Bloomberg report has revealed.

According to the report, the Federal Government may allow the refinery to set its own petrol prices, potentially shifting away from government regulation on Thursday.

It stated, “Nigeria will allow Dangote to set gasoline prices for petroleum marketers beginning next month,” sources informed Bloomberg. “Petrol marketers will soon be able to purchase directly from the Dangote Refinery.”

Commenting on the development, Temitope Ajayi, Senior Special Assistant (SSA) to the President on Media and Publicity, confirmed that Dangote’s refinery will sell petrol at market rates.

Ajayi said, “Dangote Refinery, as a profit-driven enterprise, will not sell below market value. It is unlikely that NNPC or the federal government will control prices for a private business.