Dangote Refinery Begins Supply Of Diesel To Marketers, Crashes Pump Price To N1,225

By Agency Report 

Dangote oil refinery located at Lekki in Lagos has finally begun  supply of  petroleum products such as diesel and aviation jet fuel to the Nigerian domestic market, according to a top official of the Independent Petroleum Marketers Association of Nigeria on Tuesday 

Head of the Independent Petroleum Marketers Association of Nigeria, Abubakar Maigandi, told Reuters that local oil marketers set the price at 1,225 naira ($0.96) from 1,500 per litre for diesel after securing a bulk purchase agreement, prior to adding their mark-up. 

The association’s members control about 150,000 retail stations across Nigeria, Maigandi said. 

The smaller Depots and Petroleum Products Marketers Association of Nigeria said its members were seeking letters of credit to buy petroleum products from Dangote. 

“Our members are discussing with banks and these talks have reached advanced stages, when we have our letters of credit, we will begin lifting products,” Femi Adewole, the association’s executive secretary said. 

An executive from the company and various fuel marketing organizations told Reuters that oil marketers load diesel from the refinery, an important step in Nigeria’s drive for energy independence