The Federal Government has the potential to reduce the pump price of petrol produced by the Dangote Petroleum Refinery to below N600/litre, according to statements from crude oil refiners. The Crude Oil Refiners Association of Nigeria expressed confidence that local refineries like Dangote could help lower the cost of petrol. They mentioned that if certain interventions were made, the price could drop significantly. The association highlighted that factors like exchange rates and refining processes affect the final price of petrol. They also suggested that selling crude oil in naira at a discounted rate could further decrease the cost of petroleum products. The association emphasized the importance of collaboration between the government and private players to address the issue effectively. Discussions around refining processes, pricing, and government interventions were key points in the statements made by the crude oil refiners.
Govt interventions can crash Dangote petrol below N600/litre – Refiners
