Oil Marketers Complaining to Tinubu over Price Drop – Dangote Refinery

Dangote Refinery has said that oil marketers are complaining to President Bola Tinubu about the drop in price of its diesel to N900 per litre, claiming it is negatively affecting their businesses.

According to Edwin, the refinery’s spokesperson, petroleum product marketers in Nigeria have written to the Tinubu to show their discontent with the refinery’s local prices, which have dropped from N1,200 to N1,000 and now N900 per litre.

Edwin said in a statement:

“We are surprised that the marketers are complaining about the price drop, especially when it benefits the Nigerian people.

“The refinery is struggling to sell about 29 tankers of diesel per day due to low patronage from local petroleum product importers, resulting in the refinery exporting most of its diesel and aviation fuel.”

The refinery’s CEO, Aliko Dangote, had earlier announced that the supply of diesel from the refinery had caused a roughly 60 per cent decrease in the commodity’s price in the local market.

READ ALSO: Dangote Refinery May Export Petrol

However, oil marketers have complained that this price drop is affecting their businesses negatively.

According to Edwin, the company faced different challenges and never expected when the refinery was set to commence operations.

He said:

“We thought we were doing the right thing by adding value to the raw materials available in the country, but unfortunately, we started facing challenges with the crude supply.”

The Dangote Refinery, which commenced operations in March, supplied diesel and aviation jet fuel in April and is expected to begin the supply of premium motor spirit (PMS) this month.

Also, the refinery has stated that it would export its PMS if the Nigerian National Petroleum Company (NNPC) Limited and other domestic petroleum marketers choose not to purchase it.