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Why We Increase Petrol Price – Dangote Refinery

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Dangote Refinery don tok say di recent change wey dem do for di ex-depot price of Premium Motor Spirit (PMS), wey pipu sabi as petrol, na bcos global crude oil price don go up.

Anthony Echiejina, wey be di Head of Corporate Communications for Dangote Industries, don yarn dis one for one statement on Sunday for Lagos.

Di News Agency of Nigeria (NAN) report say on January 17, Dangote Refinery increase petrol price from N899 go N955 per litre.

Echiejina explain say di wahala for global crude oil price na wetin dey affect how much e go cost to produce PMS, because crude oil na di main material wey dem dey use make petrol.

“Anytime crude oil price go up for international market, e go still affect di cost of di petrol wey dem don finish,” na wetin Echiejina talk.

E im yarn say Dangote Refinery don only increase di ex-depot price by 5%, wey e mean say di price move from N899.50 to N950 per litre.

According to am, dis increase still dey lower pass di 15% jump for global crude oil price, wey don carry Brent Crude go up from 70 dollars to 82 dollars per barrel.

Echiejina talk say Dangote Refinery don bear almost 50% of di extra cost wey come because crude oil price go up for market.

E still yarn say di refinery keep di Single-Point Mooring (SPM) ex-vessel price for N895 per litre.

“As e be like dis, all Dangote Refinery partners, wey include Ardova, Heyden, and MRS Holdings, go sell petrol for N970 per litre for everywhere across Nigeria,” na wetin Echiejina talk.

E explain say even though crude oil price don rise, Dangote Refinery dey try make di increase no too affect Nigerians.

“If we wan put all di increase for crude oil price for di cost, PMS fit don rise reach between N1,150 to N1,200 per litre for some places, compared to di N970 wey we dey sell now,” Echiejina add.

E talk say Dangote Refinery dey serious to provide better petrol for beta price, even as global oil price dey waka anyhow.

Echiejina yarn say di company priority na to protect Nigerians from di full effect of di price wahala and still help di country economy grow well.

E talk say for transparency matter, Dangote Refinery go dey publish di ex-depot price, ex-vessel price, and pump price every week, make pipu sabi di real price and avoid price cheat.

E still talk say di company dey appreciate President Bola Tinubu’s “Naira for Crude Initiative” wey don make sure Nigerians dey get beta PMS steady and no feel di full pressure of di global market wahala.

Echiejina thank Nigerians for di support wey dem dey give and promise say Dangote Refinery go continue to deliver beta value and help Nigeria economy strong well.


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