The chairman of Dangote Industries Limited, Aliko Dangote has said the price of petrol from his refinery will be determined by the federal executive council (FEC).
He spoke on Tuesday after a press conference in Lagos.
Dangote’s response comes after the official announcement of the commencement of petrol production.
“On pricing, it is an arrangement which is designed and approved by the federal executive council (FEC) led by His Excellency, President Bola Ahmed Tinubu,” he said.
“As soon as it is finalised, which he (Tinubu) is pushing, once we finish with NNPC, it can be today, it can be tomorrow, we are ready to roll into the market.”
Additionally, the business tycoon said the petrol from the plant, in terms of quality, can go head to head with products from other refineries across the globe.
When asked the timeframe for the petrol supply, Dangote said an announcement would be made after meeting with the NNPC today or Wednesday.
According to the billionaire, as soon as this is finalised, “our products will start going to the market”.
“Our gasoline can be in filling stations in the next 48 hours depending on NNPC,” he said.
Following the start of petrol production at the refinery, the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) said the Dangote refinery is expected to supply 25 million litres of petrol daily in September and will subsequently augment this amount to 30 million litres daily from October.
The 650,000 bpd capacity refinery commenced operations in January with the production of diesel and aviation fuel.