By Editor
Dangote Oil Refinery has finally begun supplying the Nigerian domestic market with petroleum products.
Sources who revealed the development to Reuters identified the products as diesel and aviation fuel.
The head of the Independent Petroleum Marketers Association of Nigeria, Abubakar Maigandi, said that local oil marketers set the price at N1,225 ($0.96) per litre for diesel after securing a bulk purchase agreement, before adding their markup.
He further stated that the association’s members control about 150,000 retail stations across Nigeria.
Also speaking, the Executive Secretary, Femi Adewole stated that its members were seeking letters of credit to buy petroleum products from Dangote.
“Our members are discussing with banks and these talks have reached advanced stages. When we have our letters of credit, we will begin lifting products,” he observed.
On his part, a group executive at Dangote, Devakumar Edwin confirmed that the company has begun distributing diesel and jet fuel to the local market.
“We have substantial quantities. Products are being evacuated both by sea and road. Ships are lining up one after another to load diesel and aviation jet fuel. Ships load a minimum of 26 million litres, though we try to push for 37 million litre vessels for ease of operations,” Edwin stated.
The 650,000 barrels per day Dangote Refinery had earlier fixed January 2024 to commence domestic supply of petrol products.
