Dangote Refinery will sell its refined oil at international price to Nigeria when it commences operation next year. The refinery which is being constructed in Lagos, won’t sell according to domestic price despite operating within Nigerian.
According to the Minister of Finance, Budget and National Planning, Zainab Ahmed, the location of the refinery was a determining factor in the choice of the refinery’s market price. The refinery is situated at the Export Processing Zone, Lekki, in Lagos State, and it is expected to refine 650,000 barrels of crude oil per day.
Reason For Allowing Dangote Refinery To Sell At International Price
Ahmed disclosed that the only benefit of the refinery operating in Nigeria is that it eliminates shipping cost. She told NTA’s ‘Good Morning Nigeria’ programme on Monday, that this will…. https://allnews.ng/news/fg-defends-dangote-over-plan-to-sell-fuel-at-international-price)
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