The Minister of Finance and Coordinating Minister of the Economy, Wale Edun has announced that the federal government is allowing stakeholders time to address and potentially reduce petrol prices now that the Nigerian National Petroleum Corporation Limited has begun lifting refined petrol from the Dangote Petroleum Refinery.
Edun disclosed this in an interview with Channels Television on Sunday.
He expressed optimism about improved energy security and sufficiency, while also stressing that stakeholders need time to work on lowering petrol prices.
He congratulated key figures involved, including Alhaji Aliko Dangote, NNPC’s Mr. Mele Kyari, and other relevant agencies, for their contributions towards this milestone.
He said, “We’re expecting that as this refinery, and even others, ramp up production, scale, and achieve greater economies of scale, there should be the opportunity—and there is definitely the potential—to reduce their costs, which should be passed on to the consumer.
“So, we have to give them a chance. They have just started, and they have done very, very well.
“It’s a triumph for Alhaji Aliko Dangote, it’s a triumph for Mr. President, above all, but it’s also a very good day for Nigerians, and we look forward with optimism. Thank you.”
The Chief Corporate Communications Officer of NNPC Ltd, had announced on Saturday that 300 trucks would be stationed at the Dangote Refinery’s loading gantry by the end of the day.
This preparation was in anticipation of the scheduled petrol loading on Sunday, September 15.
The commencement of refined petrol distribution from the Dangote Refinery to NNPC marks a significant advancement in the refinery’s operations and its contribution to Nigeria’s energy sector.
Meanwhile, Marketers have called for direct access to PMS from the Dangote Refinery, criticizing the NNPC’s dominant control over the market. They argue that greater access to the refinery’s output would improve competition and market efficiency.
