Fuel Marketers Protest: Are Dangote's Fuel Prices Too Low?
The Vice President of Dangote Industries has stated that fuel marketers have written to President U, protesting that the fuel from Dangote's refinery is too inexpensive. In this video, you will hear from the Vice President of Dangote himself as he explains the process. Nigeria's major oil marketers seem to be holding back the future of affordable fuel as Dangote's refinery, Africa's largest, begins producing petroleum locally—a development we should be celebrating. It begs the question: why are these major players refusing to purchase from this game-changing facility?
It is suggested that this could be the solution Nigerians have been waiting for. I will delve into what I believe is the reason the biggest oil marketers are resisting, and what it means for fuel prices in the country. For the first time in decades, Nigeria has a domestic solution to its fuel challenges: Premium Motor Spirit (PMS), diesel, kerosene, jet fuel—you name it, the Dangote Refinery is producing all these products locally at prices that could potentially lower fuel costs nationwide. So, one might wonder, why is Dangote's refinery considered a game-changer?
let's examine the reasons together. By refining our own crude oil locally, we reduce transportation costs, avoid high import tariffs, and create thousands of jobs for Nigerians. It's a win-win for both the economy and consumers. However, not everyone is on board with the Dangote Refinery, a massive opportunity for Nigeria. Many major petroleum marketers are still refusing to buy petroleum products from the Dangote Refinery. But why? As far as Dangote's petroleum refinery is concerned, we have begun production of PMS since last Sunday, that is, from the 31st of August. The production is ongoing, and we are storing the produced PMS. Originally, we were in discussions with the government for the allocation of crude oil because the whole purpose...
