Dangote Refinery has announced that it will be compelled to export 95-97% of its Premium Motor Spirit (petrol) due to low patronage from Nigerian marketers.
The refinery, which processes 650,000 barrels per day, revealed that only 3 to 5 percent of petrol marketers are interested in purchasing its fuel.
Devakumar Edwin, Vice President of Oil and Gas at Dangote Industries Limited, shared this information during an X Space session hosted by Nairametrics on Wednesday.
He provided details about the challenges confronting the Dangote Refinery and the broader oil and gas sector in Nigeria.
“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,” he said while speaking about the quantity of the refinery’s products sold locally.
This development follows the upcoming Sunday deadline for NNPCL to approve the distribution plan for Dangote Refinery’s fuel, despite the lack of a clear plan.
Recall that Aliko Dangote, President of Dangote Group, had announced the initial rollout of petrol from Dangote Refinery.
However, he mentioned that the distribution to marketers relies on approval from NNPCL.
