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Dangote Diesel Prices Too Cheap, Bad For Business – Marketers
Petroleum marketers in Nigeria have raised concerns about the negative impact of Dangote Refinery’s reduced diesel prices on their businesses.
In a letter addressed to President Bola Tinubu, the marketers stated that the refinery’s recent decision to lower local diesel prices to ₦900 per litre is adversely affecting their operations.
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EKO HOT BLOG reports that during a Twitter Spaces session hosted by Nairametrics, Devakumar Edwin, Vice President of Dangote Industries Limited, addressed these concerns and elaborated on the challenges facing the refinery.
Edwin explained that the Dangote Refinery, situated in the Lekki Free Zone near Lagos, is encountering difficulties in selling approximately 29 tankers of diesel daily due to insufficient local demand from petroleum product importers.
As a result, the refinery has been forced to export a significant portion of its diesel and aviation fuel to international markets.
Dangote Prices Marketers
Despite these challenges, Edwin emphasized that the refinery’s capacity to produce petrol—constituting 44% of its total production—is sufficient to meet Nigeria’s local demand.
With a daily production capacity of 650,000 barrels, the Dangote Refinery commenced exporting naphtha in March, followed by low-sulphur straight run fuel oil (LSSR) in May, and began selling diesel and jet fuel domestically in April. Furthermore, the refinery started exporting diesel that meets European specifications in June.
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Edwin highlighted that the refinery remains committed to supplying the Nigerian market, but the current lack of local patronage has made it necessary to explore international markets to maintain operations.
Despite the difficulties, Dangote Refinery continues to adapt, aiming to balance domestic needs with global opportunities.
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