Govt suspends Dangote fuel negotiations!
Ministry of Energy has disclosed that government has suspended negotiations with Nigeria’s dangote petroleum refinery over the supply of petroleum products after the proposed deal was deemed commercially unfavourable.
Ministry of Energy Permanent Secretary Professor Ephraim Munshifwa says government failed to secure lower prices, as Dangote’s fuel prices are tied to international market rates amid strong global demand.
He has told Phoenix News in an interview that Zambia will instead rely on an alternative supplier for the next four months before reverting to the open access framework, allowing private companies to resume fuel imports.
Professor Munshifwa explained that government’s direct involvement in fuel procurement was only a temporary emergency measure, necessitated by uncertainties caused by the conflict in the middle east.
.-Phoenix FM