See why there is hope of new fuel prices in August

• The Dangote Refinery is seen as a game changer and there is hope that the refinery can help crash prices
• A group of youths has now tasked traditional leaders especially in Lagos to provide the needed support
• Africa's largest oil refinery project, is set to begin production of petrol in August and sales to Nigerians
• Legit.ng journalist Dave Ibemere has over a decade of business journalism experience with in-depth knowledge of the Nigerian economy, stocks, and general market trends.

As anticipation mounts over the imminent operational launch of the Dangote Refinery, Youths in Lagos State have charged traditional rulers in Yoruba land to provide the needed support and protect the assets.

Dangote refinery to begin sale of petrol this month Photo credit: Bloomberg/contributor
Source: Getty Images

The youths, under the aegis of the Lagos Advocacy Group, Lekki Empire Advocacy Forum, and Yoruba Youth Advocacy Forum made this call on Tuesday, July 31, 2024 at a press conference held in Lagos.

Dangote refinery operation

Yakubu Eleto, who is the Convener of the Lagos Advocacy Group appealed to all the traditional rulers in the South-West to rally around the refinery because it is located in Yoruba land, , Punch report.

He stated.

“The royal fathers should not allow the great investment to die, as posterity will judge them if they fail to talk now."

The group also stressed that the Dangote Refinery, situated in the Lekki Free Trade Zone of Lagos State, represents Africa's largest oil refinery project and a cornerstone of Nigeria's aspirations for energy self-sufficiency.

Dangote refinery confirms date for petrol sale

Meanwhile Aliko Dangote, said that Premium Motor Spirit (PMS), commonly known as petrol, will be ready at the Dangote refinery between 10th and 12th August 2024.

Dangote said:

"By the grace of God, Premium Motor Spirit was supposed to be available this July, but the fire incidents disrupted us for a few days. However, by the latest, the 10th or 12th of August, PMS will be ready."

There is hope that the Dangote refinery will help reduce fuel prices in Nigeria.

FG orders regulators over Dangote refinery

Legit.ng earlier reported that the Nigerian government, via NMDPRA, said it expects fresh reports to confirm the sulphur content of the diesel produced by the Dangote Refinery, as the firm denied claims of inferior products.

The authority’s spokesman, George Ene-Ita, disclosed that the NMDPRA had done its job and would not engage in a media war with anyone over its chief executive, Farouk Ahmed, ’s claims that the sulphur content on Dangote diesel was high.

He disclosed that the agency has about 15 engineers and scientists attached to the Dangote refinery.

Source: Legit.ng