Dangote Faces Price War as NNPC Backs Fuel Imports
Aliko Dangote, CEO of Dangote Refinery, has clarified that the refinery sold petrol to the Nigerian National Petroleum Company (NNPC) at a price lower than imported fuel, even as the downstream sector faces an intensifying price war. Dangote accused the NNPC and other outfits of sabotaging the $20bn refinery investment, particularly by denying it crude supplies and continuing fuel imports. He stated: “We sold to NNPC at a lower price than imported petrol.” The price war has escalated as NNPC has moved to match Dangote’s reduced petrol price, with NNPC retail outlets now selling at ₦860 per litre after Dangote cut its ex-depot price from ₦890 to ₦825 per litre. This marks the refinery’s second price reduction in the new year and third in two months. Industry analysis shows fuel importers are being squeezed, with average 30-day landing costs hitting […]