Dangote Reduce Fuel To N250 Per Litre.
Africa’s richest person, Aliko Dangote yesterday released official samples of petrol from his refinery, assuring that the local sale of the fuel will help stablise the naira by helping to correct distortions in the value of the local currency compared with the dollar.
Describing the development as historic, Dangote said the refinery located in Lagos will assist in knowing the true consumption of petrol in Nigeria since every loaded truck can be tracked.
Dangote, who spoke during a live programme relayed on Arise Television, THISDAY’s broadcast arm, lauded President Bola Tinubu for all the support to ensure the dream became a reality.
The 650, 000 barrels per day facility is expected to serve the entire Nigerian market as well as export to the West African Sub-region as well as the global market eventually.
In about the last 28 years, Nigeria has not produced Premium Motor Spirit (PMS), popularly known as petrol after its four official refineries in Port Harcourt, Warri and Kaduna broke down.
Several governments in the past have spent billions of dollars on turnaround maintenance for the refineries but without results. Nigeria spends over $10 billion annually on the importation of petrol for its over 200 million citizens.
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