By Eghobor Moses (SIWES Student, Wellspring University)
Dangote Refinery has announced that it may be forced to export 95-97 percent of its Premium Motor Spirit (petrol) due to low demand from Nigerian marketers.
Despite a production capacity of 650,000 barrels per day, the refinery noted that only 3 to 5 percent of local petrol marketers are currently purchasing its products.
Devakumar Edwin, Executive Vice President of Oil and Gas at Dangote Industries Limited, shared this during an X Space session hosted by Nairametrics. He emphasized the significant challenges facing both the refinery and Nigeria’s oil and gas sector.
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 stated, citing a lack of domestic demand as a critical issue.
This development comes as the Nigerian National Petroleum Company Limited (NNPCL) faces a deadline to lift fuel from Dangote Refinery, with no clear plan in place. While Aliko Dangote, President of the Dangote Group, has announced the refinery’s first petrol rollout, its distribution remains heavily dependent on the NNPCL’s participation.
