My refinery will reduce fuel price in Nigeria – Aliko Dangote,

The Chairman of Dangote Group ”Aliko Dangote, has said his $20 billion 650,000 barrels per day Lagos-based refinery will crash the price of fuel as it reduced the price of diesel in Nigeria.

Dangote disclosed this at a recent ”Afreximbank” Annual Meetings and AfriCaribbean Trade & Investment Forum in Nassau, The Bahamas.

Asked to speak on whether or not his refinery would crash the pump price of petrol, which sells at an average of N700 per liter, Dangote gave no affirmative answer, explaining how the price of diesel fell from 1,700 to N1,200 when his diesel flooded the Nigerian market.

Aliko Dangote, the chairman of the Dangote Group, has declared that his $20 billion, 650,000 barrel-per-day refinery in Lagos will cause the price of fuel to soar, lowering the cost of diesel in Nigeria.

At the recent Afreximbank Annual Meetings and AfriCaribbean Trade & Investment Forum in Nassau, The Bahamas, Dangote made this revelation.

When asked if his refinery will lower the average pump price of gasoline, which is N700 a liter, Dangote declined to comment, citing the price of diesel falling from N1,700 to N1,200 as a result of his fuel flooding the Nigerian market.

”He mentioned that the present capacity of his refinery to store refined petroleum products is 4.78 billion liters.”There’s no denying that the fuel issue is distinct.