Dangote Refinery has announced that it may be compelled to export 95-97% of its Premium Motor Spirit (petrol) due to a lack of interest from local marketers in Nigeria.
The indigenous oil company, which has a capacity of 650,000 barrels per day, reported that only 3 to 5 percent of petrol marketers are willing to purchase its product.
Devakumar Edwin, Vice President of Oil and Gas at Dangote Industries Limited, shared these insights during an X Space session hosted by Nairametrics on Wednesday, where he discussed the challenges facing both the Dangote Refinery and the broader oil and gas sector in the country.
“I’m currently selling 2 to 3 percent to small traders who are interested, while the remaining 95 to 97 percent must be exported,” he stated, highlighting the limited local demand for the refinery’s products.
This situation arises as the deadline for NNPC approaches.
