Dangote refinery has started supplying petroleum products into the Nigerian market on Tuesday.
Reuters reported that Dangote’s group executive Devakumar Edwin confirmed the shipping of diesel and jet fuel into 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,” Edwin told Reuters.
“Ships load a minimum of 26 million litres, though we try to push for 37 million litres vessels, for ease of operations.”
Dangote refinery can refine up to 650,000 barrels of crude oil per day, and will be the largest refinery in Africa and Europe when it reaches full capacity.
The US$20bn refinery in Lekki Lagos commenced production of diesel and aviation fuel in January 2024.
Abubakar Maigandi, head of the Independent Petroleum Marketers Association of Nigeria said that local oil marketers agreed a price of ₦1,225 per litre following a bulk purchase agreement, before putting their mark-up.
The association’s members control about 150,000 retail stations across Nigeria, Maigandi said.
A litre of diesel sells at around ₦1,450 per litre at retail stations in Lagos State.
Nnamdi Maduakor is a Writer, Investor and Entrepreneur
