In a landmark development, Dangote Oil Refinery has kickstarted its mission to power Nigeria’s domestic market with essential petroleum products, including diesel and aviation jet fuel. As reported by Findwhosabi News, Abubakar Maigandi, the head of the Independent Petroleum Marketers Association of Nigeria, revealed that local oil marketers have set the price at 1,225 naira ($0.96) per litre for diesel after securing a bulk purchase agreement, paving the way for their distribution across the nation.
With a sprawling network of approximately 150,000 retail stations under their umbrella, the association’s members wield significant influence in Nigeria’s fuel sector, ensuring widespread accessibility of these vital commodities.
Meanwhile, the Depots and Petroleum Products Marketers Association of Nigeria is diligently pursuing letters of credit to facilitate the purchase of petroleum products directly from Dangote. Femi Adewole, the association’s executive secretary, affirmed the advanced stages of negotiations with banks, signaling imminent action in lifting products to meet the nation’s energy demands.
In a testament to the refinery’s pivotal role in Nigeria’s quest for energy self-sufficiency, oil marketers have begun loading diesel directly from the facility, marking a crucial milestone in the country’s energy landscape.
Devakumar Edwin, a group executive at Dangote, corroborated the news, confirming the commencement of diesel and jet fuel distribution to the local market. Edwin highlighted the substantial quantities available, with products being evacuated via sea and road transportation. Vessels, laden with a minimum of 26 million litres, stand ready to cater to Nigeria’s energy needs, with efforts underway to enhance operational efficiency through larger-capacity vessels.
As Dangote Oil Refinery spearheads the supply chain for petroleum products, Nigeria inches closer to achieving energy independence, ushering in a new era of self-reliance and resilience in its energy sector.