Govt interventions can crash Dangote petrol below N600/litre – Refiners

Crude oil refiners are optimistic that, with appropriate measures from the Federal Government, petrol prices from the Dangote Petroleum Refinery could fall below N600 per litre.

In an interview with Sunday PUNCH, Eche Idoko, the Publicity Secretary of the Crude Oil Refiners Association of Nigeria, emphasized their confidence in local refineries, including Dangote, to reduce petrol costs.

Idoko noted that the N898 per litre price reported by the Nigerian National Petroleum Company Limited for petrol purchased from Dangote reflects the increasing exchange rate. He explained that if the exchange rate were fixed at N1,000 per dollar, the price could potentially decrease to N550 for locally produced petroleum products.