Dangote Refinery has announced that it might have to export 95-97% of its Premium Motor Spirit (petrol) due to low demand from petrol marketers in Nigeria.
On Wednesday, September 11, Devakumar Edwin, the Vice President of Oil and Gas at Dangote Industries Limited, shared this information during an X Space session organized by Nairametrics. He explained that only 3 to 5 percent of petrol marketers are currently interested in buying their petrol.
“I’m selling 2 to 3 percent to small traders who are willing to buy, while the rest 95 to 97 percent I’m forced to export,” Edwin said, discussing the challenges faced by the Dangote Refinery and Nigeria’s oil and gas sector.
This situation has arisen just as the deadline approaches for NNPCL (Nigerian National Petroleum Company Limited) to finalize Dangote Refinery’s fuel distribution plan. Previously, Aliko Dangote, President of Dangote Group, had announced the rollout of petrol from Dangote Refinery. However, the distribution to marketers is still dependent on decisions from NNPCL.
