Over 95% Of Petroleum Product Importers In Nigeria Are Not Buying From Dangote

During Spaces session on Wednesday, Devakumar V. G. Edwin – Vice President, Dangote Industries Limited revealed key insights into the challenges facing the Dangote Refinery and its impact on Nigeria’s fuel supply and prices:

Over 95% of petroleum product importers in Nigeria are not buying from the Dangote Refinery.

The Dangote Refinery struggles to sell about 29 tankers of diesel per day due to low patronage from local petroleum product importers.

As a result of this poor local patronage, dangote refinery exports most of its diesel and aviation fuel.

The Dangote Refinery has imported around 57 shiploads of crude, as local supply from the NNPC remains limited.

Petroleum product marketers in Nigeria have written to President Bola Tinubu, complaining that the refinery’s local diesel prices — which have dropped from N1,200 to N1,000 and now to N900 per litre — are negatively impacting their businesses.

Despite the challenges, 44% of dangote refinery’s petrol production capacity is sufficient to meet all of Nigeria’s local demand.

Currently, around 29 tankers are lifting fuel from the the depot of other importers daily.

(NL)