African richest man, Aliko Dangote, has spoken on the looming price war in the diesel market.
Dangote Petroleum Refinery has pegged its diesel price to N1,000 per litre from the prevalent N1, 600 the product is sold in the market, with price war in the air.
Earlier, the new entrant to the industry crashed diesel price to N1,200/litre from the original N1,600/litre.
Speaking in Gombe State at the weekend where he attended a wedding ceremony, the billionaire businessman hinted that in few days’ time, diesel will be sold at N1000 nationwide, saying some investors had reaped bountifully from the business in the past.
“Some persons have held the business for a very long time; they were profiting but we decided that we can afford to sell it at N1000 which is 60 per cent drop.
“Areas like here (Gombe), Borno, Bauchi it was selling for N1,700 – N1,800 but right now in the next few days, you will not buy diesel for more than N1000 anywhere in Nigeria,” he told newsmen.
