Aliko Dangote, the Chairman and Chief Executive Officer (CEO) of Dangote Group, has revealed that the Federal Executive Council will determine the pricing arrangement for petrol produced from the Dangote Refinery.

This move may be as a payback to the President Bola Tinubu’s , magnanimity, when he, in June approved the sale of crude oil to the Dangote Refinery in Naira in a bid to crash the price of refined petroleum products.

The 650,000-barrel-per-day facility officially unveiled its refined petrol on Tuesday, September 3, with Dangote announcing that product will be in filling stations in the next 48 hours.

Dangote stated, “It is an arrangement which is designed and approved by the Federal Executive Council led by His Excellency, President Bola Ahmed Tinubu.

“As soon as it is finalised, which he (Tinubu) is pushing, once we finish with NNPC, it can be today, it can be tomorrow, we are ready to roll into the market.”

Dangote said the development will reduce the demand for foreign exchange by 40 per cent.

“I will like to salute the people of Nigeria and the government of President Bola Tinubu for creating the environment for us to thrive and also achieve this monumental of giving energy to our people for growth, and prosperity,” he said.