Dangote Petroleum Refinery has said that it is forced to export 97 percent of its refined products due to low patronage by local oil marketers.
This is according to Mr Devakumar Edwin, the Vice President of Dangote Industries Limited. He also said only 3 percent of local oil marketers purchase refined petroleum products from the 650,000 barrel per day capacity refinery.
Mr Edwin alleged that when the refinery started selling diesel at a lower price than the Depot and Petroleum Products Marketers Association of Nigeria, DAPPMAN, the association wrote to President Bola Tinubu complaining that the price cut affected their business ‘due to the large inventory of imported AGO’.
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He also added that the refinery may also be forced to export its petrol if the marketers are not willing to purchase from them.
