Petroleum product marketers in Nigeria have reportedly written to President Bola Tinubu, complaining that the price of diesel from Dangote Refinery, which is currently N900 per litre, is negatively affecting their businesses. Devakumar Edwin, Vice President of Dangote Industries Limited, shared this information during a Twitter Spaces session organised by Nairametrics.
Edwin stated, “Petroleum product marketers in Nigeria have informed President Bola Tinubu that the local prices from the refinery, which have dropped from N1,200 to N1,000 and now to N900 per litre, are impacting their businesses adversely.”
He highlighted some of the challenges facing the Dangote Refinery and its effects on Nigeria’s fuel supply and prices. According to Edwin, the refinery struggles to sell about 29 tankers of diesel per day due to low local demand from petroleum product importers. “As a result of this poor local patronage, the refinery exports most of its diesel and aviation fuel,” he said.
Earlier, Edwin had indicated that Dangote Refinery products would be exported if the Nigerian National Petroleum Company Limited (NNPC) and other local dealers did not buy them. “We have been exporting aviation fuel, producing kerosene and diesel, and just started producing PMS. The only remaining product is petrochemicals,” he noted on a radio programme.
When asked if the petrol would be sold locally, Edwin replied, “There has been a blockade preventing our products from being lifted within the country. Traders have been trying to block it, so we are currently exporting our petroleum products. We are ready to supply as much PMS as needed, but if traders or NNPC are not purchasing, we will continue to export it, as we are doing with aviation jet fuel and diesel.”
Edwin also expressed that Dangote Refinery has faced unexpected challenges since it began operations.
