{"id":131181,"date":"2024-09-17T15:51:53","date_gmt":"2024-09-17T14:51:53","guid":{"rendered":"https:\/\/www.africa-press.net\/nigeria\/uncategorized\/dont-expect-dangote-refinery-to-sell-petrol-below-cost-price-economist"},"modified":"2024-09-17T16:56:42","modified_gmt":"2024-09-17T15:56:42","slug":"dont-expect-dangote-refinery-to-sell-petrol-below-cost-price-economist","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/nigeria\/economy\/dont-expect-dangote-refinery-to-sell-petrol-below-cost-price-economist","title":{"rendered":"Don\u2019t expect Dangote Refinery to sell petrol below cost price \u2013 Economist"},"content":{"rendered":"<p><span style=\"color: #ff6600\"><strong>Africa-Press &#8211; Nigeria. <\/strong><\/span>The Managing Director of Financial Derivatives Company Limited, Bismarck Rewane, has said that it would be suicidal for Dangote Refinery to sell petrol below its production cost.<\/p>\n<p>Rewane made this statement on Channels Television\u2019s Business Morning segment of Sunrise Daily breakfast programme on Tuesday.<\/p>\n<p>According to him, Dangote Refinery or any other refinery apart from government-owned refineries is in business to produce at a profit.<\/p>\n<p>He added that they would produce at a price point where their marginal cost equals their marginal revenue and they will not sell below cost if not if they do that consistently, they will go out of business.<\/p>\n<p>\u201cWhat Dangote Refinery is assuring the country is quality and quantity but that pricing is not necessarily in the hands of Dangote Refinery but in the hands of the market; the market determines the price including the global crude price, guaranteed margin and the cost of processing. It\u2019s as simple as that. Nobody goes into business to sell below its cost price if not that is suicide.<\/p>\n<p>\u201cI think we should get along rather than be carried away by false expectations. Yes, it\u2019s good to know that the petrol is being lifted, it is a milestone from our own refineries which we had before but now we have the largest single-train refinery in the world. We have it as a result of the initiative of Alhaji Dangote but now it is business time,\u201d he stated.<\/p>\n<p>Rewane also said the August inflation figure which showed a decline was not sustainable.<\/p>\n<p><strong>For More News And Analysis About Nigeria Follow Africa-Press<\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Africa-Press &#8211; Nigeria. The Managing Director of Financial Derivatives Company Limited, Bismarck Rewane, has said that it would be suicidal for Dangote Refinery to sell petrol below its production cost. Rewane made this statement on Channels Television\u2019s Business Morning segment of Sunrise Daily breakfast programme on Tuesday. According to him, Dangote Refinery or any other [&hellip;]<\/p>\n","protected":false},"author":84,"featured_media":131180,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[24,15],"tags":[10513,480,254],"class_list":["post-131181","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","tag-dangote-refinery","tag-economist","tag-nigeria"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v26.1 (Yoast SEO v27.0) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Don\u2019t expect Dangote Refinery to sell petrol below cost price \u2013 Economist - Nigeria<\/title>\n<meta name=\"description\" content=\"The Managing Director of Financial Derivatives Company Limited, Bismarck Rewane, has said that it would be suicidal for ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/nigeria\/economy\/dont-expect-dangote-refinery-to-sell-petrol-below-cost-price-economist\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Don\u2019t expect Dangote Refinery to sell petrol below cost price \u2013 Economist\" \/>\n<meta property=\"og:description\" content=\"The Managing Director of Financial Derivatives Company Limited, Bismarck Rewane, has said that it would be suicidal for ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/nigeria\/economy\/dont-expect-dangote-refinery-to-sell-petrol-below-cost-price-economist\" \/>\n<meta property=\"og:site_name\" content=\"Nigeria\" \/>\n<meta property=\"article:published_time\" content=\"2024-09-17T14:51:53+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-09-17T15:56:42+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/nigeria\/sites\/3\/2024\/09\/sm_1726575977.426937.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1359\" \/>\n\t<meta property=\"og:image:height\" content=\"906\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/economy\/dont-expect-dangote-refinery-to-sell-petrol-below-cost-price-economist#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/economy\/dont-expect-dangote-refinery-to-sell-petrol-below-cost-price-economist\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"Don\u2019t expect Dangote Refinery to sell petrol below cost price \u2013 Economist\",\"datePublished\":\"2024-09-17T14:51:53+00:00\",\"dateModified\":\"2024-09-17T15:56:42+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/economy\/dont-expect-dangote-refinery-to-sell-petrol-below-cost-price-economist\"},\"wordCount\":279,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/economy\/dont-expect-dangote-refinery-to-sell-petrol-below-cost-price-economist#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/nigeria\/sites\/3\/2024\/09\/sm_1726575977.426937.jpg\",\"keywords\":[\"Dangote refinery\",\"economist\",\"Nigeria\"],\"articleSection\":[\"all news\",\"Economy\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/nigeria\/economy\/dont-expect-dangote-refinery-to-sell-petrol-below-cost-price-economist#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/economy\/dont-expect-dangote-refinery-to-sell-petrol-below-cost-price-economist\",\"url\":\"https:\/\/www.africa-press.net\/nigeria\/economy\/dont-expect-dangote-refinery-to-sell-petrol-below-cost-price-economist\",\"name\":\"Don\u2019t expect Dangote Refinery to sell petrol below cost price \u2013 Economist - 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