The Dangote Petroleum Refinery has revealed that it is exporting 97% of its refined products due to low demand from local oil marketers.

Speaking at an event organized by Nairametrics, Devakumar Edwin, Vice President of Dangote Industries Limited (DIL), stated that only 3% of local oil marketers are purchasing refined petroleum products from the refinery.

Edwin expressed surprise that despite the refinery’s efforts to supply products locally, it has been forced to export most of its production.

“We started selling diesel at a lower price than the prevailing market price, but the marketers complained to the president, citing the impact on their business due to large inventory of imported AGO,” he said.

The Depot and Petroleum Products Marketers Association of Nigeria (DAPPMAN) wrote to President Bola Tinubu, prompting discussions with the Nigerian National Petroleum Company (NNPC) to resolve the issue. Edwin noted that the NNPC has proposed monitoring the refinery’s production and product distribution to ensure transparency.

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While the discussions are ongoing, Edwin warned that the refinery may be forced to export its petrol if local demand remains low.

However, he acknowledged the NNPC’s efforts to address the issue and expressed hope for a mutually beneficial agreement.