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Dangote Refinery Will Sell Petrol At International Price, Says FG - Business - Nairaland

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Dangote: My Refinery Will Be Completed By The End Of 2021 / Dangote Refinery Will Transform Nigeria’s Economy / ‘Dangote Refinery’ll Not Sell Petrol At Regulated Price’- The Nation (2) (3) (4)

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Dangote Refinery Will Sell Petrol At International Price, Says FG by unique456: 11:53am On Sep 15, 2020
The minister said this on NTA’s ‘Good Morning Nigeria’ program on Monday, which was monitored by our correspondent. She said the only thing Nigeria would not need to pay is the shipping cost. Zainab said, “What we are doing is enabling the petroleum sector to actually grow. There have been a number of refineries that have been licensed for several years. None of them was willing to start refining under the regime that we had were fuel was controlled.

“The Dangote refinery is sitting within an Export Processing Zone so they are insulated from that. When we buy fuel from Dangote, we will be buying fuel at the international market price.

The only savings that we will be making is the savings of freight which is shipping. “But we will still have landing cost; labor cost and the marketers will still have to put a margin.

These refineries being those that are supposed to have come to operate can now come in because they are assured that when they produce, they can sell at market rate and recover their investments and make some reasonable profits.” She said the deregulation of the sector which led to an increase in the petrol price was good for the economy as it would encourage investments in refineries. Ahmed added, “It will mean more refineries will open, they will employ people and fuel will be available in different parts of the country and not just relying on the government refineries.

Read more at: https://naijapalaba.com/dangote-refinery-will-sell-petrol-at-international-price-says-fg/
Source: Naijapalaba.com

Re: Dangote Refinery Will Sell Petrol At International Price, Says FG by tunday2020(m): 11:57am On Sep 22, 2020
unique456:
The minister said this on NTA’s ‘Good Morning Nigeria’ program on Monday, which was monitored by our correspondent. She said the only thing Nigeria would not need to pay is the shipping cost. Zainab said, “What we are doing is enabling the petroleum sector to actually grow. There have been a number of refineries that have been licensed for several years. None of them was willing to start refining under the regime that we had were fuel was controlled.

“The Dangote refinery is sitting within an Export Processing Zone so they are insulated from that. When we buy fuel from Dangote, we will be buying fuel at the international market price.

The only savings that we will be making is the savings of freight which is shipping. “But we will still have landing cost; labor cost and the marketers will still have to put a margin.

These refineries being those that are supposed to have come to operate can now come in because they are assured that when they produce, they can sell at market rate and recover their investments and make some reasonable profits.” She said the deregulation of the sector which led to an increase in the petrol price was good for the economy as it would encourage investments in refineries. Ahmed added, “It will mean more refineries will open, they will employ people and fuel will be available in different parts of the country and not just relying on the government refineries.

Read more at: https://naijapalaba.com/dangote-refinery-will-sell-petrol-at-international-price-says-fg/
Source: Naijapalaba.com

Nigerians have been reacting to the recent increase in price of petrol and electricity as a result of deregulation, then the Minister of Finance was reported to have issued a statement on behalf of Federal Government that Dangote may sell petrol based on Internationally regulated price. Here's my view on it.

https://www.youtube.com/watch?v=O9A3MuHJbxU

(1) (Reply)

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