The Dangote Refinery begins operations on Monday (today) and is located at Dangote Industries Free Zone, Ibeju-Lekki, Lagos. it is set up to process crude oil grades from the continent of Africa, Asia, and America, with a delivery of a surplus of close to 38 million liters of petrol, diesel, kerosene, and aviation fuel for Nigeria daily.

Data in a document obtained from the company, on Sunday, showed that the Dangote Refinery could support the establishment of 26,716 fillings stations, create 100,000 direct and indirect jobs, and provide a $21bn market for Nigerian crude oil annually.

The National President, of the Independent Petroleum Marketers Association of Nigeria, Chinedu Okonkwo, said, “That refinery is going to create further hope for this nation.

The time spent in importing petroleum products will be eliminated and Nigeria will gain a lot from it, moving forward,” he stated.

He said operators were hopeful that the facility would eradicate cases of poor petroleum product supply, which often led to an incessant scarcity of Premium Motor Spirit, popularly called petrol, across the country.

With the coming onboard of the Dangote Refinery, we believe that Nigeria will say goodbye to PMS scarcity, as well as the poor supply of other petroleum products,” Ukadike stated.

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What do you think🤔 will Dangote Refinery reduce the cost of Petrol⛽

DyshApp:
The Dangote Refinery begins operations on Monday (today) and is located at Dangote Industries Free Zone, Ibeju-Lekki, Lagos. it is set up to process crude oil grades from the continent of Africa, Asia, and America, with a delivery of a surplus of close to 38 million liters of petrol, diesel, kerosene, and aviation fuel for Nigeria daily.

Data in a document obtained from the company, on Sunday, showed that the Dangote Refinery could support the establishment of 26,716 fillings stations, create 100,000 direct and indirect jobs, and provide a $21bn market for Nigerian crude oil annually.

The National President, of the Independent Petroleum Marketers Association of Nigeria, Chinedu Okonkwo, said, “That refinery is going to create further hope for this nation.

The time spent in importing petroleum products will be eliminated and Nigeria will gain a lot from it, moving forward,” he stated.

He said operators were hopeful that the facility would eradicate cases of poor petroleum product supply, which often led to an incessant scarcity of Premium Motor Spirit, popularly called petrol, across the country.

With the coming onboard of the Dangote Refinery, we believe that Nigeria will say goodbye to PMS scarcity, as well as the poor supply of other petroleum products,” Ukadike stated.

What do you think🤔 will Dangote Refinery reduce the cost of Petrol⛽

For ur dream abi? Anyways it's possible becouse the northers are not slaves to money not like other parts

Has any Dangote product crashed the price of any commodity in this country? Get ready to buy fuel at twice of what you're currently paying

It won't reduce the price of petrol

The cost of maintenance, upgrades, transport, quality, and loans taken has to be paid on top of the cost of refining petrol. Plus, NNPC is not going to sell crude cheaply to Dangote.

Infact, anyone asking this question who owns a business, should also be asked if he or she would cut prices to help poor Nigerians. They won't so why should Dangote.

yes to #100 per liter
how much is dangote cement ,sugar,flour compared to others. guess it is cheaper

dominique:
Has any Dangote product crashed the price of any commodity in this country? Get ready to buy fuel at twice of what you're currently paying

For the first time i agree with you

The simple answer is "NO" . Dangote is all about monopoly in the first few years of manufacturing or production, combined with an upward review of price. Get ready to buy the different distilled crude products at double the current price.

dominique:
Has any Dangote product crashed the price of any commodity in this country? Get ready to buy fuel at twice of what you're currently paying

That means that Dangote would only get richer at the expense of Nigeria, then do you think that is there is any good part to this news?

Jumbojnr:
The simple answer is "NO" . Dangote is all about monopoly in the first few years of manufacturing or production, combined with an upward review of price. Get ready to buy the different distilled crude products at double the current price.

But don't you think that it might affect removal of subsidy?

Reduce what, can a monopolist reduce price? Expect ripping off when subsidy is removed. Then later, Igbos will enter the game and bring competition and crash the price, but that will be in distant future

DyshApp:


That means that Dangote would only get richer at the expense of Nigeria, then do you think that is there is any good part to this news?

Some shallow minds will be celebrating government backed Monopoly, he will only get richer and impoverish the masses more

abhosts:
People need to understand that situating a Refinery in Nigeria does not necessarily make its refined products cheaper than refined products produced in an Indian Refinery.

Other factors like electricity cost and general costs of doing business in a country would weigh in . Dangote cement is cheaper in other African countries because they have better climates for business than Nigeria. Many Nigerian manufacturers switched to importation because their products made in Nigeria could not compete with China-made products even after paying for shipping and import duty. So Dangote Refinery may save the country some foreign currency, but it is unlikely to be cheaper than imported refined products.

Thank you

DyshApp:


But don't you think that it might affect removal of subsidy?

The subsidy will still be removed, it's just going to be a gradual process so as to cushion it's negative effects

My problem is that of Nigeria government that not allow other Nigerians to compete with Dangote

Why would you say that nnpc would not sell crude cheaper to dangote ?just so you know fuel can single-handedly remove any govt or party in power hence the need for subsidy nnpc would give him crude at rock bottom price to supply Nigeria to keep her polity stable.

nairalanda1:
It won't reduce the price of petrol

The cost of maintenance, upgrades, transport, quality, and loans taken has to be paid on top of the cost of refining petrol. Plus, NNPC is not going to sell crude cheaply to Dangote.

Infact, anyone asking this question who owns a business, should also be asked if he or she would cut prices to help poor Nigerians. They won't so why should Dangote.

you have to wait and see....
many african nations are countin on it....

you no see presidents of ghana,chad,niger and others their....??

abhosts:
People need to understand that situating a Refinery in Nigeria does not necessarily make its refined products cheaper than refined products produced in an Indian Refinery.

Other factors like electricity cost and general costs of doing business in a country would weigh in . Dangote cement is cheaper in other African countries because they have better climates for business than Nigeria. Many Nigerian manufacturers switched to importation because their products made in Nigeria could not compete with China-made products even after paying for shipping and import duty. So Dangote Refinery may save the country some foreign currency, but it is unlikely to be cheaper than imported refined products.

the refinery has its own power plant....

dominique:
Has any Dangote product crashed the price of any commodity in this country? Get ready to buy fuel at twice of what you're currently paying

Stick to banning people

jaytimeo:
Why would you say that nnpc would not sell crude cheaper to dangote ?just so you know fuel can single-handedly remove any govt or party in power hence the need for subsidy nnpc would give him crude at rock bottom price to supply Nigeria to keep her polity stable.

Problem is, subsidy costs far too much than we can afford.

No

To answer your question, you have to first ask yourself, what affects the price of fuel in Nigeria? According to the Major Oil Marketers Association of Nigeria, MOMAN, they have attributed supply & pricing fluctuations in the country to high costs of vessels, inadequate trucks to deliver petroleum products from depots to filling stations across Nigeria, and the NNPCL politicizing the supply process! While it is very unlikely that the start of operation at the refinery would lead to a massive drop in the price of petrol, it will however reduce freight costs and enhance supply security.