The much awaited supply of petroleum products from the 650,000 barrels per day (bpd) Dangote petroleum refinery to the Nigeria market has commenced. The news was confirmed by Dangote’s group executive, Devakumar Edwin via a report monitored on Reuter.
“We have substantial quantities. Products are being evacuated both by sea and road. Ships are lining up one after another to load diesel and aviation jet fuel,” Edwin affirmed.
“Ships load a minimum of 26 million litres, though we try to push for 37 million litres vessels, for ease of operations.” Edwin confirmed to Reuter
READ: Why Dangote Petroleum Refinery Misses Production Date – Aliko Dangote
Also confirmed the supply to local market, Independent Petroleum Marketers Association of Nigeria (IPMAN) National President, Alhaji Abubakar Maigandi said “The least volume a marketer can buy is one million litres. Even now as I dropped the call someone was telling me they wanted to start selling.”
In addition, Abubakar said that local oil marketers set the price at 1,225 naira ($0.96) per litre for diesel after securing a bulk purchase agreement, prior to adding their mark-up.
On their part, The smaller Depots and Petroleum Products Marketers Association of Nigeria said its members were seeking letters of credit to buy petroleum products from Dangote Petroleum Refinery.
“Our members are discussing with banks and these talks have reached advanced stages, when we have our letters of credit, we will begin lifting products,” Femi Adewole disclosed.
Earlier in the year, the Dangote group head, Aliko Dangote had said this in an interview on the sidelines of the Saudi Arabia and Nigeria business roundtable that he wanted to commence production with Nigeria crude; “We don’t want to start our refinery with foreign goods, we want to start with the Nigerian crude,” “We’re more than ready and you will see our gasoline products soon.”
