Dangote Exposes Discrepancy: They Lied About Pump Price, locally Refined Fuel is 15% Cheaper Than Imported

Aliko Dangote, Chairman of Dangote Group, has publicly accused the Nigerian National Petroleum Company Limited (NNPCL) of deceiving the public about fuel prices from his Lagos refinery. In a recent Bloomberg interview, Dangote revealed that fuel purchased from his refinery on September 15 was priced 15% lower than NNPCL’s imported fuel ¹. He criticized NNPC’s lack of transparency in pricing, attributing it to high import costs.

Dangote emphasized that the price announced by NNPC was inaccurate, suggesting that the company’s import costs and profits were not openly disclosed. He pointed out that NNPC’s imported fuel is 15-20% more expensive than his refinery’s product.

NNPC has since adjusted pump prices across its retail outlets, citing current market conditions. However, controversy surrounds the company’s altered breakdown of estimated prices for petrol from Dangote Refinery.

 Estimated Pump Prices by State:

– Sokoto: N999.22
– Borno: N1,019.22
– Sokoto, Kano, Kaduna, FCT: N999.22
– Lagos: N950.22
– Oyo: N960.22
– Rivers and Imo: N980.22

Dangote advocates for ending fuel subsidies in Nigeria, seeking accurate data on petrol consumption.