Dangote Refinery Debunks Shutdown Rumors, Impacts Petrol Prices in Nigeria

Dangote Refinery refutes shutdown claims by delivering 43 million liters of fuel in a day, affecting petrol prices in Nigeria. The refinery's operations are at full capacity, ensuring no market risks despite price hikes by other depots.

Aliko Dangote's price reduction to N699 per liter caused market disruptions, with competitors adjusting prices. The move led to losses in the downstream sector, estimated at N100 billion monthly due to below-cost selling.

The situation highlights the competitive dynamics and pricing strategies in Nigeria's oil and gas sector.