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Operators in Nigeria's downstream oil sector have urged the Federal Government to take decisive action to ensure the Dangote Petroleum Refinery receives adequate crude oil supplies. This call to action arises amid a growing preference among marketers for cheaper imported refined petroleum products, rather than purchasing from the Dangote refinery. The reluctance to source from the local refinery stems largely from cost concerns.

A significant issue highlighted by the Independent Petroleum Marketers Association of Nigeria (IPMAN) is the pricing of crude oil provided to the Dangote refinery by international oil companies (IOCs). The association criticized these companies for selling crude to Dangote at prices higher than the global market rates. IPMAN's National President, Abubakar Maigandi, denounced this as an “anti-country practice” that undermines the economic objectives of local refining efforts.

This pricing discrepancy is particularly troubling given that the Dangote refinery, which has been positioned as a key player in reducing Nigeria's..... Continue reading 👇

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Operators in Nigeria's downstream oil sector have urged the Federal Government to take decisive action to ensure the Dangote Petroleum Refinery receives adequate crude oil supplies. This call to action arises amid a growing preference among marketers for cheaper imported refined petroleum products, rather than purchasing from the Dangote refinery. The reluctance to source from the local refinery stems largely from cost concerns.

A significant issue highlighted by the Independent Petroleum Marketers Association of Nigeria (IPMAN) is the pricing of crude oil provided to the Dangote refinery by international oil companies (IOCs). The association criticized these companies for selling crude to Dangote at prices higher than the global market rates. IPMAN's National President, Abubakar Maigandi, denounced this as an “anti-country practice” that undermines the economic objectives of local refining efforts.

This pricing discrepancy is particularly troubling given that the Dangote refinery, which has been positioned as a key player in reducing Nigeria's dependency on imported fuel, is now struggling to compete with the lower prices of imported products. As a result, marketers are opting to purchase cheaper diesel and aviation fuel from international sources, rather than buying domestically refined products.

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