Africa's richest man and owner of a $20 billion refinery in Lagos, Aliko Dangote, has said that Premium Motor Spirit (PMS), also called petrol, from his refinery is ready and will reach the country's petrol stations within the next 48 hours.
However, he said that reaching the filling stations on time depends on the Nigeria National Petroleum Company Limited (NNPCL).
Mr Dangote's comment is contained in a video posted on Facebook by Channels Television.
The price of petrol has skyrocketed since May last year, when President Bola Tinubu, in his inaugural address, declared the end of petrol subsidy.
President Tinubu in his address to Nigerians {PHOTO CREDIT: Nosasemota On X}
The move has led to an increase in the price of petrol by more than 400 percent, from 189 naira to over 900 naira today. It has also caused a jump in inflation.
Asked to comment on the price of petrol from his refinery, Mr Dangote said it would be decided by the Federal Executive Council led by President Tinubu.
“It is an agreement designed and approved by the Federal Executive Council led by President Tinubu.
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“As soon as it is finalised, once we are done with NNPCL, which may be today or tomorrow, we will be ready to enter the market,” Dangote said.
The channels reported that Mr Dangote declared today “a day of celebration” for Nigerians, assuring people that they will now have good petrol that will last longer.
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“There will be no engine problems like many of us have had. It will not happen at all. The quality here will be comparable to anywhere in the world; America, America, we will make sure that nobody will surpass us in terms of quality,” Dangote assured the Nigerians.
But long queues have reappeared at petrol stations across the country ahead of the expected arrival of petrol from the Dangote refinery.
At the NNPCL mega station in Uyo, Akwa Ibom State, for instance, long queues stretching for kilometres were seen on Tuesday morning when our reporter visited.