Dangote, PH refineries, others won’t affect fuel price -Kyari

The Group Chief Executive Officer of the Nigerian National Petroleum Company Limited, Mele Kyari, has said that local production of Premium Motor Spirit, otherwise known as petrol, by Dangote Refinery, Port Harcourt Refining Company and others in Nigeria is not going to change the pump price of the commodity.

The NNPCL’s Group Chief Executive Officer, Mele Kyari, who disclosed this during an interview on Arise television in Abuja on Thursday, stressed that the notion that petrol prices would reduce once the country starts domestic production was false.

Kyari stated that the Dangote Refinery, which previous President Muhammadu Buhari dedicated on May 22, 2023, will begin producing goods by the end of July or the beginning of August.

The Port Harcourt Refinery will be delivered by the end of the year, he added, and it was anticipated that the facility would increase local gasoline production even more.

But Kyari asserted that even if these facilities were projected to produce a large amount of gasoline, the price of the good would not go down simply because it was made locally.

“There is a notion that if the product is processed locally, prices will reduce. Let me make it clear that it is not going to change anything. If you produce locally, the refineries will also input the cost of production and other things and it will be sold at the current price.

“There will also be no subsidy when local production starts because there is no cash-to-back subsidy, this country no longer has the resources to continue with subsidy,” Kyari stated.

Kyari further speculates that fuel queues being witnessed across the country would not exceed Saturday.