We’ll be forced to export 97% of our petrol – Dangote Refinery warns

Dangote Refinery has said that it will be forced to export 95-97 percent of its Premium Motor Spirit (petrol) because of low patronage by marketers in Nigeria.

This is as the 650,000 barrels per day indigenous oil firm revealed that only 3 to 5 percent of petrol marketers are willing to buy its petrol.

ALSO READ  ‘Nnamdi Kanu’ll never be subjected to trial lacking fair hearing’ – Ejimakor

The Vice President, Oil and Gas at Dangote Industries Limited, Devakumar Edwin, disclosed this on Wednesday during an X Space session organized by Nairametrics.

He gave insights into the challenges facing the Dangote Refinery and the country’s oil and gas sector.

“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.

ALSO READ  Help Nigeria return $69bn proceeds of stolen crude oil in Texas account – Enenche tells Trump

The development comes as Sunday’s date for NNPCL to lift Dangote Refinery’s fuel approach without a visible plan.

Recall that the President of Dangote Group, Aliko Dangote announced Dangote Refinery’s first petrol rollout.

He, however, disclosed its distribution to marketers is dependent on the NNPCL.

We’ll be forced to export 97% of our petrol – Dangote Refinery warns

ALSO READ  Euro 2024: Two teams qualify for quarter-finals
Share

Leave a Reply

Your email address will not be published. Required fields are marked *