See more as Dangote raises concerns as 6 fuel stations crash pump prices

• Africa's richest man, Aliko Dangote, has erstwhile again spoken up astir the challenges his refinery is facing
• He noted that immoderate individuals are inactive opposing the occurrence of its refinery operations, and helium has vowed not to relent
• Dangote Refinery has been precise instrumental successful influencing the terms of fuel, with its partners present selling beneath NNPC's rates

Dave Ibemere, a writer astatine Legit.ng, has been reporting connected business for implicit 10 years. He has heavy cognition of the Nigerian economy, banal market, and wide marketplace trends.

Aliko Dangote has raised caller concerns implicit persistent efforts by immoderate individuals against the endurance of his 650,000 barrels-per-day refinery located successful Lekki, Lagos.

Speaking astatine an capitalist forum successful Lagos connected Friday, May 2, Africa’s richest antheral highlighted ongoing refinery challenges and vowed to proceed to combat on.

Dangote vows to guarantee his refinery proceed to operate Photo credit: Bloomberg/contributor
Source: Getty Images

Semafor, an planetary quality medium, reported that Dangote revealed that definite individuals who person profited immensely for decades from government-subsidised lipid imports into Nigeria are present the ones attempting to sabotage the

Dangote was quoted arsenic saying that

“Those groups person funded absorption to the Bola Tinubu government’s removal of petrol subsidies and are opposed to the refinery operating easy successful the country.”

However, Dangote was assured that helium and the radical would triumph the battle, priding himself connected being a long-time fighter.

He added:

“We’re fighting, and the combat is not yet finished. But I person been warring each my life, and I americium acceptable and 100 per cent definite I volition triumph astatine the extremity of the day."

This is not the archetypal clip Dangote has raised an alarm astir persons trying to undermine the cognition of its refinery.

At a constituent successful 2024, Dangote said he regretted gathering the refinery, saying the mafias successful the lipid and state assemblage were stronger than those of drugs.

However, helium refused to springiness up connected the task arsenic the installation targets its afloat capableness soon, Punch reports.

Dangote said:

"For 35 years, radical were utilized to counting casual money. Now that those days are over, you can’t expect them to enactment you naturally, they’ll propulsion back."

Filling stations trim substance prices beneath NNPC's rate Photo credit: nurphoto
Source: Getty Images

Dangote crashes substance prices

Since kicking disconnected operation, Dangote refinery has been cardinal to determining the trajectory of substance prices successful Nigeria.

Recently, the refinery announced that it is reducing substance prices and instructed its spouse downstream players to besides set prices.

Dangote's existent retail partners include Technoil, MRS Nigeria, Ardova PLC, Optima Energy, and Hyde and Heyden.

Right now, astir of Dangote's partners are selling substance little than the prices quoted by the Nigerian National Petroleum Corporation Limitedthe of N880 per litre.

Marketers disquieted astir losses

Ealier, Legit.ng reported that the Independent Petroleum Marketers Association of Nigeria (IPMAN) has warned lipid dealers and importers of aboriginal losses.

The marketers warned that terms cuts from the antithetic players could effect successful a precarious situation, and advised the importers to marque purchases carefully, to debar being stuck with products they cannot sell.

Dangote and NNPC person soundless and been locked successful a soundless terms warfare successful enactment with the deregulation of the industry.

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Source: Legit.ng