Confusion As Dangote speaks on selling petrol at high price

VAM News November 2, 2024 in Business, National Tagged Dangote, Petrol - 1 Minute

News Update

Dangote Refinery on Saturday tagged as fake the allegation that it sells petrol between N1, 015 and N1, 028/litre.

Some oil marketers had reportedly on Friday said the price of petrol, produced by the Dangote Refinery stood between N1, 015 and N1, 028/litre.

They said it would be reasonable to import the product from the international market as the landing cost stood at N978.01/litre as of October 31, 2024.

Reacting to the development, Dangote Group on its X handle dismissed the allegation as ‘fake news’.

VAM reported that the Independent Petroleum Marketers Association of Nigeria, IPMAN, had claimed that the price of fuel from Dangote Refinery, as of last week, was higher than in other places.

Yakubu Suleiman, National Assistant Secretary of IPMAN stated this on Friday while fielding questions on Arise Television’s Morning Show programme.

Suleiman said IPMAN members would go where the price is lower and where they get profit, adding that they have to pity Nigerians.