Dangote Refinery has announced plans to export 95-97 percent of its Premium Motor Spirit (petrol) due to low patronage by Nigerian marketers.
The refinery, which has a capacity of 650,000 barrels per day, revealed that only a small fraction of local marketers are purchasing its petrol, forcing the company to look overseas for buyers.
The Vice President of Oil and Gas at Dangote Industries Limited, Devakumar Edwin, disclosed this on Wednesday during an X Space session organized by Nairametrics.
According to Edwin, just 3 to 5 percent of petrol marketers in Nigeria are willing to buy from the refinery, leading to the export of the vast majority of its products.
“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, highlighting the refinery’s struggle to gain local traction.
This development comes amid concerns over the Nigerian National Petroleum Company Limited’s (NNPCL) role in lifting Dangote Refinery’s fuel. The lack of a clear distribution plan from NNPCL has further complicated local sales, according to industry insiders.
The refinery’s first petrol rollout was announced by Aliko Dangote, President of Dangote Group, but its distribution remains tied to the NNPCL, raising questions about future domestic availability.
