See more as Sanusi speaks on Dangote refinery makes final decision on pump price

• Emir of Kano, Muhammad Sanusi II, has condemned the mounting pressure faced by Dangote Refinery
• Sanusi blamed vested interests for hindering Nigeria’s transition away from fuel importation and the benefits of local production
• President Bola Tinubu’s administration has decided not to get involved in the pricing of petrol in the country

Dave Ibemere, a journalist at Legit.ng, has been reporting on business for over ten years. He has deep knowledge of the Nigerian economy, stock market, and general market trends.

The Emir of Kano, Muhammad Sanusi II, has expressed concern over Dangote Refinery's difficulties, accusing vested interests of hindering Nigeria's progress towards ending fuel importation.

Sanusi makes his feelings known about Dangote Refinery Photo credit: Nurphoto
Source: Facebook

Speaking at the launch of the book Public Policy and Agents’ Interests: Perspectives from the Emerging World, co-authored by former Minister of Finance Shamshudeen Usman, criticized the ongoing feud between Dangote Refinery and the Nigerian National Petroleum Company Limited (NNPCL).

The dispute included the crude oil supply and petrol pricing.

He said the former Central Bank of Nigeria (CBN) governor stressed that this conflict was emblematic of a broader issue, accusing certain elites of perpetuating Nigeria's dependency on fuel imports for personal gain.

He added that an indigenous refinery was a chance for Nigeria to end decades of reliance on imported fuel, only to have the effort stymied by those profiting from importation and subsidies.

President Tinubu makes decisions on petrol prices

Legit.ng earlier, the administration of President Bola Tinubu officially declared that it would not intervene in the ongoing petrol pricing dispute between the Nigerian National Petroleum Company Limited (NNPCL) and Dangote Refinery.

The president's special adviser, Bayo Onanuga, announced the decision while commenting on the ongoing pricing dispute.

Onanuga stressed that the petroleum market was deregulated, and there was no need for the president's intervention.

He noted that there was no need for the president's intervention, stating that the decision aligned with the Petroleum Industry Act (PIA) provisions, which grant the NNPCL autonomy as a limited liability company.

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Source: Legit.ng