Dangote refinery: We expect reduction in fuel price, scarcity in Nigeria – CSO
Situation Room on Energy Sustainability, a coalition of civil society organizations, has said that with the commencement of the Dangote refinery, the pump price of the Premium Motor Spirit, PMS also known as petrol would crash.
the President of Dangote Group, Alhaji Aliko on Tuesday revealed that product from the 650,000 barrels per day refinery will hit filling stations across the country on Thursday.
Reacting, the group in a statement by its convener, Dr. Ikenna Nnaji, expressed optimism that the world’s largest single-train refinery would end the incessant fuel crisis in the country.
The coalition further said that the development will save Nigeria billions of dollars in foreign exchange, which, according to them, would subsequently strengthen the local currency.
They urged other players in the private sector to emulate Dangote by investing in Nigeria’s energy sector.
The statement reads, “For years, Nigerians have suffered from perennial fuel scarcity, skyrocketing prices, hunger, and even death due to the inability of our refineries to produce.
“This has led to untold hardships, economic losses, and loss of lives. The impact on our economy, healthcare, and education has been devastating.
“With the commencement of PMS production at the Dangote refinery, we expect a significant reduction in fuel scarcity, leading to lower prices and increased economic activity, which will in turn improve livelihoods, reduce hunger, and save lives.”
