Dangote Refinery in Lagos has reportedly started selling diesel to traders across Nigeria. Oil marketing experts said the refinery has reduced the price of diesel from N1,700 per liter to N1,225 per liter. Additionally, the facility said it will begin supplying gasoline to the local market in May 2024 to reduce Nigeria’s imports of the product.

The pump price of diesel has increased from N1,700 per liter sold a few weeks ago to about N1,350 per liter in some localities in Nigeria following the sale of the product by Dangote Refinery. Findings show that the $20 billion, 650,000 barrel per day capacity refinery began pumping diesel into the domestic market on Wednesday, March 27, 2023. The company is said to have sold at least one million liters to each of its registered refinery distributors since it started selling diesel.

Maigandi said some traders have started taking the products, but IPMAN members have not yet to lift the products from the premises. He was said to have confirmed that the company was selling the product at N1,225 per liter and the minimum volume was about one million per marketer, adding that the company had announced that it would soon launch more quantity. The development comes as the refinery announced that it will start supplying Premium Motor Spirit, commonly known as petrol, from May 2024.

A Bloomberg report points out that the largest refinery in Africa will soon supply petrol to the domestic market in a bid to reduce Nigeria’s dependence on imported petroleum products. The refinery is operating at a processing capacity of 350,000 barrels per day and has plans to increase to a maximum capacity.

Author: Deborah Oyinloye

With an interest in media, Deborah aims to impart the lives of people positively.

Please leave this field empty

Don’t miss these tips!

Email Address *

We don’t spam! Read our [link]privacy policy[/link] for more info.

Check your inbox or spam folder to confirm your subscription.