The Dangote Refinery is poised to make a significant impact on Nigeria’s fuel market, with petrol distribution set to begin on September 15, 2024.
Daily News 24 observed that the move is expected to influence both pricing and the supply of petrol across the country.
READ ALSO: IPMAN ready to buy petrol from Dangote Refinery at any price
Petrol Pricing Updates
According to reports from Legit.ng and Daily Post, the price of petrol from the Dangote Refinery is expected to be between N857 and N865 per liter at filling stations. The Nigerian National Petroleum Corporation Limited (NNPCL) will be purchasing petrol from the refinery at around N840 to N850 per liter, with indications that NNPC might subsidize the product to make it more affordable for consumers.
While these prices mark a reduction compared to the current rates, ranging from N900 to N1,200 per liter, further pricing adjustments could occur by October 2024, when Dangote is expected to have more control over market prices, Punch reports.
Distribution Rollout
To address the ongoing fuel shortages, 300 trucks have been mobilized by the NNPC to start lifting petrol from the Dangote Refinery. Reports from Legit.ng and Punch confirm that the refinery plans to distribute 25 million liters of petrol daily to ease the supply issues across Nigeria.
Challenges Ahead
Despite the competitive prices from Dangote, some oil marketers have been hesitant to purchase petrol from the refinery. However, the NNPC is reported to have begun negotiating with marketers, and there are indications that this reluctance will not persist.
Nigerians are hopeful that the increased supply from Dangote will help stabilize petrol prices and improve the availability of fuel across the country.
