Aliko Dangote, founder of Dangote Petroleum Refinery, is urging the federal government to end petrol subsidies, emphasizing that Nigeria can no longer sustain this payment. In an interview with Bloomberg TV, Dangote stated that all countries have eliminated subsidies, and it’s time for Nigeria to follow suit ¹.
Dangote pointed out that subsidies create price distortions, leading to the government paying unnecessary costs. He acknowledged the sensitivity of the issue but highlighted that the current system encourages price hikes, further burdening the government.
Dangote’s refinery aims to address these concerns by tracking petrol sales locally, ensuring accurate consumption rates are monitored. He emphasized that the decision to halt subsidies rests with the government, but stressed that continuing payments is unsustainable ¹.
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