Dangote Laments Boycott By Nigerian Petroleum Marketers

Dangote Refinery has expressed growing concerns over the lack of support from Nigerian petroleum marketers, attributing the issue to low pricing strategies that are impacting its product sales.

During a Twitter Space session organized by Nairametrics, Devakumar Edwin, the Vice President of Dangote Industries Limited, revealed that more than 95% of Nigeria’s petroleum product importers are not purchasing from the refinery. This has resulted in significant challenges, with the refinery reportedly struggling to sell approximately 29 tankers of diesel per day due to weak local demand.

Edwin explained that due to this poor domestic patronage, Dangote Refinery has had to export most of its diesel and aviation fuel. Despite adjusting its prices—dropping from N1,200 to N1,000 and now N900 per litre—local petroleum marketers have still shown little interest in purchasing from the refinery.

He further noted that Nigerian petroleum marketers have written to President Bola Tinubu, expressing concerns that Dangote Refinery’s competitive pricing is negatively affecting their businesses.

“Over 95 percent of petroleum product importers in Nigeria are not buying from Dangote Refinery. The refinery struggles to sell about 29 tankers of diesel per day due to low patronage from local petroleum product importers,” Edwin shared.

“As a result of this, we have been exporting most of our diesel and aviation fuel,” he added, pointing to the ongoing challenges the refinery faces in gaining traction in the local market.

The situation underline the difficulties facing Dangote Refinery, even as it continues to lower its prices in an effort to boost local sales, while competing with established petroleum marketers.
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