Due to the lack of interest from Nigerian marketers, Dangote Refinery has announced that it will have to export 95–97 percent of its Premium Motor Spirit (petrol).
This is because, according to an indigenous oil company that produces 650,000 barrels per day, just 3 to 5 percent of petrol marketers are prepared to purchase its fuel.
During an X Space session hosted by Nairametrics on Wednesday, Devakumar Edwin, the Vice President of Oil and Gas at Dangote Industries Limited, revealed this information.
He discussed the difficulties the Dangote Refinery and the nation’s oil and gas industry are currently facing.
“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 coincides with NNPCL’s scheduled lift of Dangote Refinery’s fuel approach without a clear plan on Sunday.
Recall that the first fuel rollout at Dangote Refinery was announced by Aliko Dangote, President of the Dangote Group.
He did, however, reveal that the NNPCL controls how it is sent to marketers.
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