The Dangote Petroleum Refinery says it will absorb over N1.07tn annually in its plan to distribute fuel directly to marketers nationwide.
The refinery said it invested over N720bn to implement the initiative of deploying 4,000 Compressed Natural Gas-powered trucks for the nationwide distribution of petroleum products, saying this was expected to save Nigerians over N1.7tn annually.
“This bold step will see the privately-owned refinery absorb over N1.07tn annually in fuel distribution costs. The initiative is also poised to significantly benefit over 42 million Micro, Small and Medium Enterprises by reducing energy costs and enhancing profitability,” the company said in a statement made available to our correspondent on Sunday.
The initiative, which aims to eliminate transportation costs for fuel marketers and large-scale consumers, is also expected to help reduce pump prices and inflation.
From 15 August, Dangote said it would begin the direct delivery of petrol and diesel to filling stations, industrial facilities, and other high-volume consumers.
According to the statement, the aim was to meet Nigeria’s daily consumption of 65 million litres of refined petroleum products. “This includes 45 million litres of Premium Motor Spirit, 15 million litres of diesel, and 5 million litres of aviation fuel.
