Dangote Refinery To Export Up to 97% Of Petrol Due To Low Domestic Demand

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.

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 countryโ€™s oil and gas sector.

โ€œIโ€™m selling 2 to 3 percent to small traders who are willing to buy, while the rest 95 to 97 percent Iโ€™m forced to export,โ€ he said while speaking about the quantity of the refineryโ€™s products sold locally.

The development comes as Sundayโ€™s date for NNPCL to lift Dangote Refineryโ€™s fuel approach without a visible plan.

Recall that the President of Dangote Group, Aliko Dangote announced Dangote Refineryโ€™s first petrol rollout.

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