95% of marketers don’t buy our diesel over low pricing – Dangote

• Dangote Refinery expresses concern over the absence of support from petroleum marketers, citing low pricing strategies as a significant factor affecting its product sales.

• Devakumar Edwin, Vice President of Dangote Industries Limited, stated that over 95% of Nigeria’s petroleum product importers are not purchasing from Dangote Refinery during a Twitter Space session by Nairametrics.

• The refinery is facing difficulties in selling approximately 29 diesel tankers daily due to low patronage from local importers.

Dangote Refinery has expressed concerns regarding insufficient support from petroleum marketers, attributing this issue to competitive pricing strategies that adversely affect its product sales.

In a recent Twitter Space session hosted by Nairametrics, Devakumar Edwin, Vice President of Dangote Industries Limited, disclosed that more than 95% of Nigeria’s petroleum product importers are not sourcing their supplies from Dangote Refinery.

He highlighted that the refinery is facing challenges in selling approximately 29 tankers of diesel daily due to limited engagement from local importers.

Edwin further elaborated that this diminished domestic demand has compelled Dangote Refinery to export a significant portion of its diesel and aviation fuel.

Additionally, he pointed out that Nigerian petroleum marketers have reached out to President Bola Tinubu, voicing their concerns that the refinery’s local prices, which have decreased from N1,200 to N1,000 and currently to N900 per litre, are adversely affecting their operations.

“Over 95 percent of petroleum product importers in Nigeria are not buying from the Dangote Refinery. The Dangote Refinery struggles to sell about 29 tankers of diesel per day due to low patronage from local petroleum products importers.”

“As a result of this poor local patronage, Dangote refinery exports most of its diesel and aviation fuel”.

“Petroleum product marketers in Nigeria have written to President Bola Tinubu to complain that the refinery local prices which have dropped from N1,200 to N1,000 and now N900 per litre are impacting their businesses negatively,” he said.