Dangote Refinery has assured Nigerians it has over 310 million litres of petrol ready for supply.
The company urged marketers to bring trucks for loading, dismissing claims of fuel shortage.
As petrol prices continue to rise nationwide, the Dangote Refinery has assured Nigerians that it currently has more than 310 million litres of petrol available and is ready to load any number of trucks brought by marketers.
The Vice President of Dangote Group, Devakumar Edwin, gave the assurance on Friday during a facility tour of the refinery in Lagos. He said marketers were free to bring their trucks for loading as the refinery had enough stock for both local supply and export.
Edwin said some fuel station owners had increased their prices based on false assumptions that Dangote was not supplying. “Bring your tankers, we will load them,” he said. “We have more than 310 million litres in our tanks right now.”
He explained that the refinery sometimes reduces crude intake based on inventory levels. “When prices are low, we buy a lot. But no one wants to tie down too much money in crude oil,” he said, adding that this temporary adjustment had nothing to do with operational problems.
Edwin dismissed claims that the plant was facing production challenges. “No refinery operates at 100 per cent daily. If there’s an issue that affects output, we take turnaround maintenance, usually once every few years,” he said.
He stressed that the Dangote Refinery could meet Nigeria’s entire demand for diesel, petrol, and aviation fuel while still exporting nearly half of its total production. “Our refinery processes 650,000 barrels per day and produces about 94 per cent light products such as petrol, diesel, and jet fuel,” he noted.
Meanwhile, petrol prices across the country have climbed from about N865 per litre to nearly N1,000 despite stable crude oil prices and exchange rates. The naira currently trades around N1,470 to the dollar, and crude oil prices have dropped to around $60 per barrel.
Industry data show that depot owners recently raised their ex-depot prices, prompting filling stations in Lagos, Ogun, and Abuja to adjust pump prices. NNPC retail outlets increased prices to N928 per litre before slightly reducing them to N920 over the weekend.
NNPC spokesperson Andy Odeh confirmed that the adjustment followed higher depot costs. Dangote’s partners, including MRS and Heyden, are currently selling petrol at around N925 and N923 per litre. The refinery’s loading price reportedly rose to about N870 per litre from N820.
