Aliko Dangote, Africa’s richest man and Chairman of Dangote Petroleum Refinery, has rejected a proposal by fuel marketers seeking to increase the pump price of petrol by ₦75 per litre.
The request, which marketers reportedly hinged on operational costs and distribution challenges, was firmly turned down by the business mogul, who insisted that Nigerians must not be further burdened by an avoidable hike. Dangote maintained that the refinery’s goal is not only to guarantee local supply but also to make fuel available at the most affordable rate possible.
For many Nigerians, this stance comes as a relief. With the high cost of living and the ripple effect of fuel price adjustments on transportation and food prices, any increase would have deepened the hardship faced by households and businesses. By refusing the proposal, Dangote has positioned himself as a stabilizing force in the downstream sector, at least in the short term.
The decision also signals a broader shift in Nigeria’s energy landscape. With the Dangote Refinery gradually reshaping fuel supply dynamics, the power to influence pricing is no longer left solely in the hands of middlemen or global oil fluctuations. Instead, local production is beginning to dictate the conversation.
While fuel marketers may argue that their request was rooted in economic realities, Dangote’s rejection underscores a delicate balance between profitability and public interest. For now, the message is clear: Nigerians will not have to pay an additional ₦75 per litre, and the refinery is committed to cushioning the impact of rising costs.
Shopeju Olateju
NaijaTravels News