Dangote Refinery Challenges Marketers as 310 Million Litres of Petrol Await Loading Amid Soaring Pump Prices

As petrol prices continue to soar across Nigeria, the Dangote Refinery has thrown an open challenge to fuel marketers, asserting that it has over 310 million litres of petrol ready for immediate loading. The refinery’s Vice President, Devakumar Edwin, made this announcement during a facility tour on Friday, urging marketers to bring in their trucks and dismissing claims that the refinery was short on supply.

Edwin emphasized that the refinery was fully operational and capable of meeting both local and export demands. “We have enough Premium Motor Spirit (PMS) for the market. Bring your tankers — we will load any number you bring,” he declared. He explained that misinformation in the market had led some fuel marketers to assume Dangote was not currently supplying, prompting unnecessary pump price increases at filling stations.

Addressing speculations about reduced operations, Edwin clarified that the refinery’s reduction in crude intake was a routine business decision linked to inventory management, not a sign of production problems. “No factory works 100 percent every day without issues,” he said, explaining that temporary adjustments often occur to manage crude stock and optimize turnaround maintenance. The refinery, he noted, can supply Nigeria’s entire demand for petrol, diesel, and aviation fuel while still exporting nearly 50 percent of its refined products.

The Dangote official also highlighted the refinery’s efficiency, noting that its 650,000-barrel-per-day capacity produces about 94 percent lighter fuels such as PMS, AGO (diesel), and Jet A1, unlike older Nigerian refineries that generate higher volumes of heavy oils. “Our production of lighter products is much higher than Nigeria’s total requirement,” Edwin added, reinforcing confidence in the refinery’s contribution to national energy security.

Meanwhile, Nigerians continue to grapple with a sharp rise in petrol prices — from about ₦865 to nearly ₦1,000 per litre — despite stable crude oil prices and an improved exchange rate. Data from energy intelligence firm Kpler showed that global crude prices recently dipped below $60 per barrel, while the naira appreciated to around ₦1,470 per dollar. Yet, depot owners and marketers raised prices, deepening public frustration. Major outlets like NNPC, MRS, and Heyden have since adjusted their pump prices, citing higher depot costs.

source: punch