During a Twitter Spaces session on Wednesday, Devakumar Edwin, Vice President of Oil and Gas at Dangote Industries Limited (DIL), highlighted significant challenges currently facing the Dangote Refinery, which are affecting Nigeria’s fuel supply and pricing.
Major insights from the session revealed that more than 95% of petroleum product importers in Nigeria are not sourcing their products from the Dangote Refinery.
This low local patronage has led the refinery to struggle with selling approximately 29 tankers of diesel daily, pushing it to export most of its diesel and aviation fuel.
Edwin also noted that the Dangote Refinery has had to import around 57 shiploads of crude oil due to limited local supply from the Petroleum Corporation (PC).
Meanwhile, petroleum product marketers in Nigeria have expressed concerns to President Bola Tinubu about the refinery’s local diesel prices, which have recently dropped from N1,200 to N1,000 and now to N900 per litre, claiming it negatively affects their businesses.