Aliko Dangote, Nigeria’s business magnate, has revealed plans to counter fuel importers following the recent reduction in fuel prices. He emphasized that local production and competition would be key strategies to frustrate importers’ dominance in the market.

Dangote stated that he is ready to meet competitors directly in the marketplace, ensuring that local refiners can provide more affordable fuel to Nigerians. The move aligns with broader efforts to encourage domestic production and reduce reliance on imported petroleum products.

Industry analysts note that Dangote’s intervention could create more competitive pricing in the fuel sector, potentially benefiting consumers. By leveraging local refinery capacity, Nigeria may gradually decrease its dependence on costly fuel imports.

The business tycoon also stressed the importance of supporting local industries to enhance the country’s energy security. Authorities and stakeholders are closely monitoring how this strategy will impact fuel availability and pricing nationwide.