According to Hammed Fashola, National Vice President of the Independent Petroleum Marketers Association of Nigeria, the Dangote Refinery may help stabilize petrol prices between N600-N650 per liter, depending on production costs. Fashola stated that the refinery’s output could lead to a price reduction, despite the ongoing crude oil supply crisis affecting the facility.
Currently, the official petrol price from the Nigerian National Petroleum Company Limited is N570 per liter, while private depots sell at N700 per liter. However, with Dangote’s fuel entering the market, Fashola predicts a potential price drop to N600-N650 per liter, bringing relief to consumers.
In his words:
“The official price from the NNPC is around N570/liter, but the third parties, the private depots sell PMS to most of our members at N700 and above
“Plus or minus, we hope Dangote can sell between N600 and N650/liter. N600 is still okay. However, it depends on the cost of the production from Dangote’s end.”
Gaius Otutu is the owner of GistsNaija, which was launched in 2012.
Gaius Otutu is a prominent Nigerian businessperson who has made a name for himself in the world of entrepreneurship. Born and raised in Delta State, Nigeria, into a family of 6, with his Siblings Blessing, Favour, Henry. Gaius has always had a keen eye for business opportunities and a strong desire to make a positive impact on his community. He started his entrepreneurial journey at a young age and has since become a highly successful and well-respected figure in the Nigerian business world.
Gaius passion for business was evident from an early age, as he was always looking for ways to make money and create opportunities for himself. He started his first business while still in secondary school, and it was clear from the beginning that he had a natural talent for entrepreneurship. After completing his education, Gaius fully dedicated himself to building his career and making his mark in the business world.
One of Gaius most notable ventures is GistsNaija, a leading Nigerian entertainment and news website that he founded in 2016. GistsNaija has grown to become one of the most popular and trusted websites in Nigeria, attracting millions of visitors each month. The platform provides a wide range of content, including Movies, music, news, and entertainment, and has become a go-to source for many Nigerians seeking the latest updates and information.
In addition to GistsNaija, Gaius has also ventured into other business areas, including Tech and real estate. His keen eye for spotting emerging trends and his ability to connect with his target audience have been key to his success in these ventures. Gaius has demonstrated an impressive understanding of consumer behavior and market dynamics, allowing him to build thriving businesses that meet the needs and desires of his customers.
on 13 August, 2024 | 
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