DANGOTE URGED TO BE CONSIDERATE IN PETROL PRICING

Appeal to Alhaji Aliko Dangote: Segun Showunmi, a prominent member of the Peoples Democratic Party (PDP) in Ogun State, has called on Alhaji Aliko Dangote, owner of Dangote Refinery, to prioritize national interest and fairness over profit as the refinery begins local petrol supply.

Statement Overview: In a statement released on Tuesday, Showunmi expressed gratitude for Dangote’s efforts to supply petrol locally, but urged him to moderate pricing due to the heavy financial burden Nigerians have endured.

Acknowledgment of Dangote’s Contributions: Showunmi praised Dangote as a significant asset to Africa, commending his investment and job creation efforts. He emphasized the importance of reflecting selfless love in the pricing of petroleum products from the refinery.

Market Expectations: Independent petroleum marketers anticipate that Dangote Refinery’s petrol will be priced between NGN 600 and NGN 650 per litre. The Independent Petroleum Marketers Association of Nigeria (IPMAN) hopes the refinery will lower petrol prices similarly to how it affected diesel prices.

Current Pricing Context: IPMAN's National Vice President, Hammed Fashola, noted that while the Nigerian National Petroleum Company Limited sells petrol to marketers at NGN 570 per litre, private depots often charge NGN 700 or more.