By using this site, you agree to the Privacy Policy and Terms & Conditions.
Accept
Okay.ngOkay.ngOkay.ng
Font ResizerAa
  • News
    • Politics
  • Entertainment
  • Business & Economy
  • Sport
  • Tech
Reading: Dangote Refinery Forced to Export 97% of Refined Products Due to Low Local Patronage
Share
Font ResizerAa
Okay.ngOkay.ng
  • News
  • Entertainment
  • Business & Economy
  • Sport
  • Tech
Search
  • News
    • Politics
  • Entertainment
  • Business & Economy
  • Sport
  • Tech
Follow US
  • About Okay.ng
  • Advertising on Okay.ng
  • Contact Okay.ng
  • Careers
  • Meet the Team behind Okay.ng
  • Ownership and Funding of Okay.ng
  • Editorial Principles at Okay.ng
© OKN MEDIA PUBLISHING 2022 - All rights reserved
Energy & OilTop stories

Dangote Refinery Forced to Export 97% of Refined Products Due to Low Local Patronage

Muhammad A. Aliyu
By Muhammad A. Aliyu
Published: September 12, 2024
Share
3 Min Read
Dangote Refinery
Dangote Refinery
SHARE

The Dangote Petroleum Refinery has revealed that it is being forced to export 97 percent of its refined petroleum products due to low patronage from local oil marketers.

According to Devakumar Edwin, Vice President of Dangote Industries Limited (DIL), only 3 percent of local oil marketers are currently purchasing refined products from the refinery.

Speaking during a discussion on X (formerly Twitter), Edwin expressed frustration over the lack of support from domestic buyers, despite the refinery’s efforts to supply the local market.

“The conglomerate of all the importers is refusing to buy from us. It is very strange that after putting up the refinery to supply the products locally, I have to export every diesel and jet fuel because they do not want to buy from us,” Edwin said.

- Advertisement -

He explained that the refinery had set competitive prices for diesel, initially below market rates, and further reduced them.

However, this price cut prompted the Depot and Petroleum Products Marketers Association of Nigeria (DAPPMAN) to write to President Bola Tinubu, claiming the reduced prices affected their business due to their large inventory of imported Automotive Gas Oil (AGO).

“I’m selling 2 percent to 3 percent to small traders who are willing to buy, while the rest 95 to 97 percent I’m forced to export,” Edwin noted, adding that the refinery may also be forced to export its petrol if local buyers remain unwilling to purchase.

However, Edwin acknowledged that the Nigerian National Petroleum Company (NNPC) has initiated discussions with the refinery to potentially resolve the issue.

- Advertisement -

“NNPC has come forward. They have been discussing with us for almost three weeks now, though it is not yet concluded,” he said.

NNPC is reportedly working to agree on the quantity of crude it can supply to the refinery and plans to closely monitor the refining process.

“They are going to have a team of 10 people sitting in the refinery. They will see the crude which we are going to receive, ensuring that everything is coming into the refinery, and they would watch whether we are producing and processing everything and then, they would watch whether we are giving back all the products,” Edwin added.

Stay Updated on the Go with Our Latest News—Join Our WhatsApp Channel Now!
TAGGED:Dangote Refinery
Share This Article
Facebook Whatsapp Whatsapp Telegram Email Copy Link Print
ByMuhammad A. Aliyu
Follow:
Muhammad Ameer Aliyu, is a prolific journalist who joined Okay Nigeria in 2015 with the aim staying committed to bringing more positive growth to the digital news platform. He is the Senior Editor at Okay Nigeria.
Previous Article King Charles Welcomes Tinubu at Buckingham Palace
Next Article Real Warri Pikin Real Warri Pikin Opens Up About Past Suicide Attempt Due to N22 Million Debt

Connect with Okay on Social

FacebookLike
XFollow
InstagramFollow
TelegramFollow

Dollar/Naira Rates

Dollar to Naira Exchange Rate

Okay.ng Logo
Buy Rate ₦1,605.00
Sell Rate ₦1,620.00

Last updated: 4 days ago (June 3, 2025 2:33 pm)

Displayed rates are for informational purposes only and are subject to change.

USD/NGN Converter

- Advertisement -
- Advertisement -
Ad imageAd image
- Advertisement -
Ad imageAd image

Recent Posts

Tinubu Urged by PDP to Cut Fuel and Electricity Costs Amid Eid-el-Kabir Festivities
News
Mike Ejeagha
Mike Ejeagha, Nigerian Highlife Maestro, Dies at 95
News
Tinubu Welcomes Gov Eno to APC as Political Realignments Intensify Across States
Politics Top stories
Super Eagles Rally to Draw Against Russia in International Friendly
Sport
Manchester United Raises Annual Core Profit Forecast to Between £180m and £190m After Europa League Boost
Sport
- Advertisement -
Ad imageAd image

You May Also Like

Ange Postecoglou
Sport

Tottenham Hotspur Part Ways with Ange Postecoglou Despite Europa League Glory

Yusuf Abubakar
Yusuf Abubakar
June 6, 2025
News

Dangote Names Main Refinery Access Road “Bola Ahmed Tinubu Road” in Honor of President

Muhammad A. Aliyu
Muhammad A. Aliyu
June 6, 2025
L-R: Ify Okoye, Digital Creator; Linda Ejiofor-Suleiman, Actress; Stella Erebor, Head Internal Audit, Nigerian Communications Commission; Emanuella Samuel, Comedienne/Actress, Sylvia Musalagani, Safety Policy Manager, Africa, Middle East & Turkey (AMET), Meta, and Nicole Chikwe, founder of The Mummy Summit, during the launch of Instagram teen accounts in Lagos on Wednesday, June 4, 2025
Tech

Meta Launches Teen Accounts on Instagram in Nigeria to Enhance Online Safety for Young Users

Farouk Mohammed
Farouk Mohammed
June 6, 2025
Okay.ngOkay.ng
Follow US
© OKN MEDIA PUBLISHING 2025 - All rights reserved
  • About Okay.ng
  • Advertising on Okay.ng
  • Contact Okay.ng
  • Careers
  • Meet the Team behind Okay.ng
  • Ownership and Funding of Okay.ng
  • Editorial Principles at Okay.ng
adbanner
Welcome Back!

Sign in to your account

Username or Email Address
Password

Lost your password?