Major oil marketers like 11 Plc, Total Energies, and AA Rano are starting to source gasoline from the Dangote Refinery, which is causing a big transformation in Nigeria’s petroleum market, according to a report published in the Business Day Newspaper on Friday, September 20. These marketers are currently paying N765.99 per liter for gasoline, which is a significant discount from the previous rates, which were frequently higher than N950.CONTINUE FULL READING>>>>>
The Dangote Refinery, Africa’s largest with a capacity of 650,000 barrels per day, aims to decrease Nigeria’s dependence on imported fuel. This shift is expected to enhance fuel availability and stabilize prices across the country. However, independent marketers currently cannot purchase petrol directly from Dangote due to regulatory constraints; the Nigerian National Petroleum Company (NNPC) remains the exclusive offtaker.
Despite the new pricing, concerns about competition and transparency persist. The Independent Petroleum Marketers Association of Nigeria has called for fair pricing strategies to ensure that domestically produced petrol serves as a viable alternative to imports.CONTINUE FULL READING>>>>>
