Dangote Refinery’s Success Will End Fuel Subsidy, Ex-Minister Tells FG
A former Minister of Communications, Adebayo Shittu, on Wednesday, urged the Federal Government, relevant ministries, departments and agencies to give total support to the $20bn Dangote Refinery in Lagos, Nigeria.
Shittu, a guest on a Television programme, said the success of the 650,000 barrels per day facility will wean Nigeria’s purse off decades-long subsidies on petroleum products.
Nigeria, Africa’s most populous nation, faces energy challenges, with all its state-owned refineries non-operational. The country is heavily reliant on imported refined petroleum products, with the state-run NNPC being the major importer of the essential commodities.
Fuel queues are commonplace in the country. Prices of petrol tripled since the removal of subsidy in May 2023, from around N200/litre to around N700/litre, compounding the woes of the citizens who power their vehicles, and generating sets with petrol, no thanks to decades-long epileptic electricity supply.
