Dangote Slashes Petrol Price as He Seeks New Business Deals in Burundi
By Patience Ikpeme
The Dangote Petroleum Refinery has reduced the price of its petrol, also known as Premium Motor Spirit (PMS), by N25 per litre. The refinery changed its price from N799 per litre to N774 per litre at its loading point.
This price change was shared with oil marketers on Tuesday night, and the refinery made it clear that the new rate starts immediately across the country. “This is to notify you of a change in our PMS gantry price from N799 per litre to N774 per litre,” the refinery said in a message to its customers.
The management of the refinery explained that this move makes fuel refined here in Nigeria cheaper than fuel brought in from other countries. They pointed out that it currently costs about N793 per litre to bring petrol into the country from places like Lome, which is higher than the N774 per litre that Dangote is now charging.
While these changes are happening at home, the owner of the refinery, Alhaji Aliko Dangote, has also been busy outside the country. He recently traveled to Burundi to look for new businesses to invest in as part of his plan to grow his company across Africa.
During his visit, he met with the President of Burundi, Evariste Ndayishimiye, at the presidential palace. To make sure the business plans work out well, two groups of experts have been set up—one from Burundi and one from the Dangote Group—to find the best areas where they can start new projects.
“Our focus really is investing heavily in the African continent, not anywhere else, so Burundi is part and parcel of that African region,” Dangote said after the meeting.
He mentioned that there are great chances to invest in things like mining, electricity, farming, cement, and building roads. He said the main goal is to create a partnership where both the company and the country can prosper.
Government officials in Burundi said they talked about working together on transport, factories, and energy because these things are very important for their country’s future.
Burundi wants to attract big investors like Dangote to help change their economy and show the world that their country is a good place for big business.
People who watch the African market closely say this move is a big deal for Burundi. It helps put the country on the map for other major investors and fits perfectly into Dangote’s plan to be present in every part of the African continent.
