As news broke that the Dangote Refinery had reached agreement to sell petrol to the Nigerian National Petroleum Company Limited (NNPCl), Nigerians began feeling excited and hoping that gasoline prices would drop in the country.
However, that hope was dashed on Sunday when the NNPCL announced that it bought petrol from the Dangote Refinery at over N898 per litre.
The Gantry price per ton at the refinery was quoted to be $736 which is equivalent of $0.55 per litre. At the official exchange rate of N1,637.59 to one dollar, the NNPCL said the cost of one litre of petrol stands at N898.78.
