Dangote Refinery, the 20 billion facility owned by Africas richest man, Aliko Dangote, has warned that petrol prices in Nigeria could more than double if the country continues to rely heavily on imported fuel, raising fresh concerns about energy costs in Africas largest economy.
In a recent statement, the refinery said pump prices could climb to as high as N1,400 0.97 per liter in a post-subsidy market if domestic refining is not fully embraced. That would be a sharp increase from prices that fell as low as N699 0.48 per liter during the festive period.
Dangote Refinery operations check petrol price hikes
