**Fuel Subsidy Crisis: NNPC Mum as Dangote Refinery Considers Petrol Export**
Oil marketers project a monthly subsidy of about N707bn on petrol, as Dangote Petroleum Refinery eyes foreign markets due to crude oil supply issues. The recent concerns between Dangote refinery and oil regulators were discussed in a meeting in Abuja.
The House of Representatives inaugurated an investigative committee to address crude shortage and alleged fuel price increases for profiteering. While the pump prices of diesel and aviation fuel are higher than their landing costs, petrol prices remain lower.
IPMAN insists the government is still subsidizing PMS, despite denials. With a landing cost of N1,117 per litre, the subsidy on petrol amounts to about N532 per litre. Dangote refinery may consider exporting petrol due to the high costs of production.
Experts, including Prof Wumi Iledare, support Dangote’s potential petrol export, citing free trade zone regulations. The investigative committee will ensure compliance with global standards for petroleum products imported into Nigeria. Minister Lokpobiri held a crucial meeting to address the ongoing issues at Dangote refinery.