Business
“Petrol Pricing to be Set by Federal Executive Council” – Dangote
Aliko Dangote, President of the Dangote Group, has disclosed that the pricing of the Premium Motor Spirit (PMS) from his new refinery will be set by the Federal Executive Council, chaired by President Bola Ahmed Tinubu.
In an interview with Channels Television, Dangote shared this development following the announcement of the refinery’s first batch of petrol from its 650,000-barrel-per-day facility, which took place on Tuesday.
He explained that the petrol from the refinery will become available at filling stations within the next 48 hours, contingent on the Nigerian National Petroleum Company Limited (NNPCL).
Dangote also mentioned that discussions are nearing completion between the $20 billion refinery and NNPCL to ensure the product reaches consumers throughout Nigeria.
He emphasized that the Federal Executive Council, under the leadership of President Tinubu, will determine the final price of the petrol.
“The pricing of the PMS is a process managed and approved by the Federal Executive Council, chaired by His Excellency, President Bola Ahmed Tinubu.
Once the arrangements are finalized, which could happen either today or tomorrow following the FEC meeting, we are prepared to launch the product in the market,” Dangote stated.
It has been noted that there is now an increase in fuel all around Nigeria, from … to 1000 plus in fuel stations.
It was also noted that Dangote Petroleum Refinery increased the price to 1,175 per litre and diesel has been increased to 1,620 per litre.
This new spike in fuel increase has caused Nigerians to lament widely, wondering why this change happened all of a sudden.
- MTN Nigeria Communications Plc (MTNN) – Strong telecom growth and 5G expansion.
- Dangote Cement Plc (DANGCEM) – Leading cement maker benefiting from infrastructure demand.
- Guinness Nigeria Plc (GUINNESS) – Consumer stock with solid turnaround potential.
- Okomu Oil Palm Plc (OKOMUOIL) – Agriculture stock tied to palm oil demand.
- Seplat Energy Plc (SEPLAT) – Energy player with gas and oil sector exposure.
- Zenith Bank Plc (ZENITHBANK) – Tier-1 bank with strong financial performance.
- Guaranty Trust Holding Company Plc (GTCO) – Leading bank with diversified revenue streams.
- Presco Plc (PRESCO) – Palm oil producer with export and dividend potential.
- NASCON Allied Industries Plc (NASCON) – FMCG stock with strong fundamentals.
- Aradel Holdings Plc (ARADEL) – Growing energy sector stock with upstream exposure.
It has been noted that the National Youth Service Corps (NYSC) and British American Tobacco Nigeria Foundation (BATNF) plan to renew their partnership in agribusiness.
The new project is to involve youth in the agriculture business, widen their horizons, and educate them about the agritech sector.
The general manager shared that “The foundation is not only providing grants but also building a system of mentorship, structure, and support that enables corps members to see agribusiness as a serious enterprise pathway.” The plan is to use the NYSC platform to engage youths.
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