Nigeria, June 30 -- Dangote Petroleum Refinery on Sunday said it has invested over N720 billion to implement its landmark initiative of deploying 4,000 Compressed Natural Gas (CNG)-powered trucks for the nationwide distribution of petroleum products, which is expected to save Nigerians over N1.7 trillion annually.

This bold step will see the privately-owned refinery absorb over N1.07 trillion annually in fuel distribution costs, the company said in a statement.

The initiative is also poised to significantly benefit over 42 million Micro, Small and Medium Enterprises (MSMEs) by reducing energy costs and enhancing profitability.

The initiative, which eliminates transportation costs for fuel marketers and large-scale consumers, is expecte...