High expectation over price reduction as Dangote fuel hits market
CHIGOZIE AMADI
Nigerians have welcomed the readiness of Dangote refinery to commence public supply of Premium Motor Spirit (PMS).
Their expectation is stemmed from the current hardship occasioned by the scarcity of petrol across the country.
Daily Champion reports that many filling stations have run dry and the few ones selling the product had long queues, thereby compelling commuters and motorists’ agonies.
The Chairman of Dangote groups, Alhaji Aliko Dangote had on Tuesday formally announced that the 650,000-capacity oil refinery in Lagos has commenced petrol production.
In a live broadcast at refinery site in Lagos, Dangote said the supply of petrol into Nigeria would change the country’s energy landscape.
While appreciating President Bola Tinubu for approving the sale of crude in naira to local refineries, Dangote said many did not believe that the $20bn refinery could start petrol production.
He said the capacity would meet local demands and the demands of sub-Saharan Africa.
Similarly, the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) on Tuesday said Dangote Refinery will supply 25 million litres of petrol to the Nigerian market in the month of September.
It added that this will rise to 30 million litres from September.
NMDPRA which stated this in a statement said Dangote has agreed to supply the product in Naira.
The organisation said it met with the Nigerian National Petroleum Company Limited to agree on local crude supply to the refinery.
“At the NMDPRA headquarters in Abuja, NNPCL reached an agreement to commence crude oil sale and supply to Dangote Refinery in local currency.
“The refinery is now poised to supply an initial 25 million litres of PMS into the domestic market this September.
“And will subsequently increase this amount to 30 million litres daily from October 2024,” the NMDPRA said on its X.
Meanwhile , an inside company source quoted Mr. Aliko Dangote, the president of the Dangote group of companies as saying that the petroleum product will be in the market in fourty-eight (48) hours.
Nigerians have therefore expressed satisfaction with the report, saying the there should be reduction in the price to ameliorate current hardship.
Sani Aminu Muhammed (Enyo)
@SaniAminuMuham4
said, “Baba is always flying, d life of a billionaire business man.”
Engr. Oche Israel
@EngrOtokpa, noted, “I am grateful to God for this, but hope it will not be expensive like Dangote Cement beyond the reach of the common man.
Collins Nwamadi, @ezecollins appealed, “Pricing for Dangote fuel, within the range of N350 to N480 and gradually reducing
On his part, Adewale ‘Damilare @dammygtnet
stated, “I heard goosebumps watching this! To be candid, Dangote was stressed over this laudable feat. Let’s hope the price is lower. So, we can all appreciate the project.
“Hope they’ll take the cost down for the prior citizens to be able to afford enough,” onlymelodia stated.
Kalu Oke Kalu tweeting as @Sirkay3024 said, “Please, do the roll out. Nigerians are waiting
Speaking jocularly, Kapiuson said, “the diesel and petrol they’ve been giving us looks like la casera, thank God for Hausa people and Dangote
viruz
However, @teejayviruz said, “Since you’re buying crude from them, it isn’t free. Why are they the ones to dictate?
“I have a feeling this guy’s fuel will exceed 1k. Isn’t proving based on supply, production costs, profit margin and demand.”
New pump price: FG making Nigerians pay for NNPCL’s crass inefficiency – NECA
The Nigeria Employers Consultative Association (NECA) says the new hike in pump price of Premium Motor Spirit (PMS), also known as petrol, is worrisome and unfair.
Mr Adewale-Smatt Oyerinde, the Director-General of NECA, said this in a statement while reacting to the new hike in pump price of PMS on Tuesday in Abuja.
The Nigerian National Petroleum Company Ltd. (NNPCL) had said that with effect from September 3, the new pump price of PMS would be N897 per litre.
According to Oyerinde, the new pump price of petrol is not only worrisome but also unfair.
“We had expected that the government will leverage on the momentum created by the completion of the Dangote refinery and the planned commencement of operation of the Port-Harcourt refinery.
“This is in order to clear the obvious self-inflicted pain on Nigerians and progressively reduce the pump price of petrol. This seems not to be the case.
“This new pump price could be seen as making Nigerians to pay for the crass inefficiency in the NNPCL,”he said.
He said that rather than address the fundamentals that have made Nigeria a net importer of petrol, even when we have four refineries, government has continued to inflict pain on Nigerians.
According to him, the government is, inadvertently, contributing to the increase in cost of doing business.
“We advise that government should have a rethink and do all that is necessary to address the continuous impoverishment of Nigerians and incapacitation of organised businesses,”he said.
