Independent oil marketers have imported approximately 496.17 million litres of Premium Motor Spirit (PMS), valued at ₦436.37 billion, within a nine-day period, intensifying tensions with the Dangote Petroleum Refinery. This surge in imports is attributed to ongoing disputes over pricing models and operational terms between marketers and the refinery.
Industry sources indicate that many marketers are opting to import petrol rather than purchase from the Dangote Refinery, citing more competitive international pricing and unfavorable business conditions at the refinery. These conditions include concerns over gantry loading procedures and other logistical challenges.
Aliko Dangote, President of the Dangote Group, has expressed concerns about the refinery’s sustainability amid these developments. He highlighted that entrenched interests and the continued preference for imports over local refining are undermining the refinery’s operations.
The Dangote Refinery, which has a capacity of 650,000 barrels per day, was established to reduce Nigeria’s reliance on imported fuel. However, recent unscheduled maintenance and reduced output have led to increased dependence on imported petrol to meet domestic demand.
This situation underscores the complexities within Nigeria’s downstream oil sector, where policy decisions, market dynamics, and infrastructural challenges continue to influence the balance between local refining and fuel importation.
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