Business News

Diesel Price to Crash as Dangote Refinery Begins Sale to Marketers

Dangote Petroleum Refinery

By Aduragbemi Omiyale There are strong indications that the Dangote Petroleum Refinery in the Lekki area of Lagos has commenced the sale of Automotive Gas Oil (AGO, otherwise known as diesel, to independent marketers in the country. The oil facility, owned by Africa’s richest man, Mr Aliko Dangote, was commissioned last May by former President Muhammadu Buhari. The refinery can process 650,000 barrels of crude oil per day, but since it was inaugurated, it has not sold petroleum products in commercial quantities. This has caused many tongues to wag about the $20 billion oil facility designed to meet the local