Oil marketers’ claims that the Dangote Petroleum Refinery cannot meet local fuel requirements have been refuted.
According to the refinery, it has enough fuel to meet demand at home and export to other countries.
According to reports, Olufemi Adewole, the Executive Secretary of the Depot and Petroleum Products Marketers Association of Nigeria (DAPPMAN), responded to remarks made by Aliko Dangote, the refinery’s founder, regarding some powerful marketers sabotaging the $20 billion facility by claiming that marketers are mainly concerned with maintaining their operations through fuel imports.
Adewole acknowledged the vested interests of private depot owners, who have made significant investments over the years to guarantee a consistent fuel supply for Nigerians, but he disputed Dangote’s idea of a “cabal” within the business.
The DAPPMAN representative asserted that private depot owners still bear the majority of the fuel distribution duties across the country, claiming that even with its substantial 650,000 barrel capacity, the Dangote refinery has failed to meet even the current reduced local consumption levels.
In his recent presentation at the Villa, the chief executive of the authority (NMDPRA) quoted the Dangote refinery as saying that it is not able to meet even the lower volume of local consumption. Therefore, the Dangote refinery is currently unable to meet. The DAPPMAN scribe said, “We, the proprietors of private depots, have been filling the void and attending to the needs of Nigerians.
It’s Not True That Dangote Refinery Isn’t Fulfilling Demands
After meeting local market demands, the refinery continues to ship fuel abroad, a senior official from the Dangote refinery informed media, requesting anonymity because of constraints on addressing the matter.
He questioned how marketers came to the conclusion that the refinery could not meet domestic demand, given that it ships millions of liters every day.
He maintained that the true consumption figures will eventually be made public and argued that Nigeria’s domestic consumption statistics have been skewed throughout time for a variety of reasons, especially during the fuel subsidy period.
Marketers have claimed in a number of publications that our refinery was unable to satisfy regional demand. That isn’t accurate.
The official stated, “We export and produce more than enough fuel for the local market.”
Another refinery official warned reporters that importers will try to thwart the “Nigeria First Policy,” but that President Bola Tinubu’s decision to ban the importation of commodities that may be produced locally is the only way to boost the economy.
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“Importers will stop at nothing to prevent the President’s decision to ban imports from succeeding, even though it is the only way we can expand the economy.” The source questioned, “Why are we importing what we already have locally?”
According to reports, the DAPPMAN CEO accused Dangote on Friday of attempting to monopolize the downstream industry, particularly when the refinery implemented price reductions.
He said that many marketers are discreetly accepting losses in order to stay afloat as a result of pricing cuts that occurred after containers left the gantry.
“We weren’t there to create a stir. But in order to continue being profitable and viable, we’ve been taking the brunt of it,” Adewole said.
The Dangote spokesperson retorted that some importers prioritize profit maximization over the well-being of the typical citizen.
He pointed out that while the Federal Government continued to subsidize imported petroleum products, many of these importers engaged in round-tripping.
“The average man is not important to these people. Their pockets are of interest to them. Many of them engaged in round-tripping during the gasoline subsidy era,” the source stated.
He also disputed the current daily fuel consumption statistic, saying the real figure must be released.
“Ask them to estimate our country’s consumption. Let them provide us with the actual number. They don’t want the general public to know that. But one day, the whole public will be aware of that. Nothing lasts forever, but those who maintain the secrets are aware of themselves. We consistently export and create daily. “So, what are they discussing?” he said.
How Did They Learn About the Stock of Dangote Refinery?
Before assessing whether the refinery can sufficiently meet local demand, a consultant for the facility, which processes 650,000 barrels per day, urged DAPPMAN, the Independent Petroleum Marketers Association of Nigeria, and the Petroleum Products Retail Outlet Owners Association of Nigeria to disclose the amount of fuel currently held in stock by the refinery.
“We must inquire with DAPPMAN and the other marketers about how they learned about Dangote’s stock holdings. Speaking to the media, the consultant questioned, “How did they come to the conclusion that the refinery can’t satisfy local needs?”
