The Dangote Refinery said it struggles to sell about 29 diesel tankers daily due to low patronage from local petroleum product importers.
This is according to Devakumar Edwin, the Vice President of Dangote Industries Limited (DIL), who spoke on a Twitter Spaces session organised by Nairametrics on Wednesday, September 11, 2024.
Recall Dangote Refinery started the rollout of diesel and Jet A1 from its facility, located in the Lekki Free Zone in Lagos a few months ago. Since it entered the market, there has been a significant decrease in diesel prices from nearly ₦2,000 to below ₦1,000.
However, Edwin said the development had not gone down well with local petroleum products marketers who wrote to President Tinubu to lodge their discontent.
“Petroleum product marketers in Nigeria have written to President Bola Tinubu to complain that the refinery local prices which have dropped from N1,200 to N1,000 and now N900 per litre are impacting their businesses negatively,” he said.
Edwin also touched on some challenges the Dangote Refinery is contending with and how they’ve impacted fuel supplies and prices in Nigeria.
He said the Dangote Refinery struggles to sell about 29 diesel tankers daily due to low patronage from local petroleum product importers.
“As a result of this poor local patronage, the refinery exports most of its diesel and aviation fuel,” he stated.
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