The Dangote Petroleum Refinery has denied trending reports that it has fixed retail price of petrol at N600 per litre.

According to the company, it is yet to decide the retail price of its petrol as the downstream market eagerly awaits the entry of the local refiner into the petrol supply chain.

Group Chief Branding and Communications Officer, Dangote Industries Limited, Anthony Chiejina, said contrary to a report published yesterday in which marketers projected a retail price of N600 per litre for Dangote petrol, the group has not decided on any price yet.

He noted that the Independent Petroleum Marketers Association of Nigeria (IPMAN), which made the projection, was not a subsisting business partner to the group.

We urge the public to desist from such speculative announcements. We have our official channels through which we make our views known to our stakeholders,” Chiejina said.

President, Dangote Group and Chief Executive Officer, Dangote Petroleum Refinery, Alhaji Aliko Dangote, had last month said the refinery is now set to roll out its petrol from this month, having resolved its crude oil supply issues through the help of the NNPCL and the federal government.

Speaking during a tour of the Dangote Petroleum Refinery and Petrochemicals in Ibeju Lekki local government area of Lagos state by media executives, Dangote said that the crude supply challenge, which affected the supply of petrol from the refinery, was resolved last week after the federal government intervened.

The media executives were on a guided tour of the refinery and fertilizer company, which is located at the Lekki Free Trade Zone in Lagos.

Dangote expressed hope that the authorities and stakeholders will abide by the provisions of the Petroleum Industry Act, PIA.

He said that the refinery’s fertiliser unit would resume export in two weeks due to efforts to meet local demand this farming season.

This would give farmers more access to fertiliser for their farm products.

Dangote said that there was a massive request for fertiliser from Nigerians and the rest of Africa, so his group had no choice but to respond positively

He said a total of $25 billion investments have been made in petrol refinery and fertilizer plant by the Dangote group over the past 10 years.

Located in Lekki Free Zone, Lagos, Dangote Refinery is expected to produce, at full operations, approximately 50 million litres of petrol and 15 million litres of diesel daily, equating to 10.4 million tonnes of petroleum products annually.