The President and Chief Executive of Dangote Group, Aliko Dangote, has urged the Federal Government to end fuel subsidies completely. Speaking in a 26-minute interview with Bloomberg Television in New York, the time is right to end subsidies which have gulped trillions of naira from the country’s coffers.
According to him, the removal would assist in determining the country’s actual consumption.
His advice follows the recent commencement of petrol lifting from the Dangote Refinery, and price increment to ₦950 per litre in Lagos state and its environs, and above ₦1000 in the north.
He stated that fuel production from his refinery will help ease pressures on the naira, and also confirmed ownership of two oil blocks in the upstream sector with an expected production date of next month.
Time To End Costly Fuel Subsidy, Dangote Tells FG
