Petroleum marketers have stated that President Bola Tinubu took advice from Aliko Dangote, President of Dangote Group, to remove the petrol subsidy completely.
Billy Gillis-Harry, President of the Petroleum Products Retail Outlets Owners Association (PETROAN), made this comment following the recent increase in fuel prices by the Nigerian National Petroleum Company Limited (NNPCL) from N897 to N1,030.
This marks the third fuel price hike in two months.
Gillis-Harry noted that these ongoing adjustments reflect the Tinubu administration’s responsiveness to Dangote’s call for complete subsidy removal.
He also supported the price increase, stating it aligns with the deregulation outlined in the Petroleum Industry Act.
“If indeed we listen to Aliko Dangote’s request in his Bloomberg interview on the fact that the President should remove subsidy completely and deregulate the downstream sector, maybe this is one step to ensuring that the Petroleum Industry Act is implemented,” he said.
Recall that in September 2024, Dangote, in an interview with Bloomberg, called on the Nigerian government to completely remove fuel subsidy.
