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Marketers of petroleum products in Nigeria have reportedly expressed concerns to President Bola Tinubu, claiming that the diesel prices offered by Dangote Refinery, currently at N900 per liter, are negatively impacting their businesses.
According to Devakumar Edwin, Vice President of Dangote Industries Limited, the marketers argued that Dangote’s price reduction, from N1,200 to N900 per liter, is hindering their ability to compete in the market.
Speaking during a Twitter Spaces session organized by Nairametrics, Edwin revealed that the refinery is struggling to sell its diesel locally due to low patronage from local petroleum importers.
He explained, “As a result of this poor local patronage, the refinery exports most of its diesel and aviation fuel.”
He also noted that the company faces significant challenges in selling its products within Nigeria, which has forced it to focus on exporting its petroleum products.
Edwin further stated that the Dangote Refinery has begun producing petrol (PMS), but warned that if local traders or the Nigerian National Petroleum Company (NNPC) refuse to buy the products, the refinery will be left with no option but to export.
He added, “If the traders or NNPC are not buying the product, obviously, we will end up exporting the PMS as we are doing with the aviation jet and diesel.”
