JUST IN: Marketers Boycott Petrol From Dangote Refinery
  • Home
  • ARTICLES
  • NEWS
  • BUSINESS
  • EDUCATION
  • ENTERTAINMENT
  • HEALTH
  • POLITICS
  • TECHNOLOGY
  • CRIME
  • METRO
  • SPORTS
  • NEWS EXTRA
  • JOBS & SCHOLARSHIPS
  • TRENDING VIDEO
  • ABOUT US
  • CONTACT US
  • PRIVACY POLICY
  • TERMS OF USAGE
  • ADVERTISE WITH US
DAILY GIST
  • Home
  • ARTICLES
  • NEWS
  • BUSINESS
  • EDUCATION
  • ENTERTAINMENT
  • HEALTH
  • POLITICS
  • TECHNOLOGY
  • CRIME
  • METRO
  • SPORTS
  • NEWS EXTRA
  • JOBS & SCHOLARSHIPS
  • TRENDING VIDEO
  • ABOUT US
  • CONTACT US
  • PRIVACY POLICY
  • TERMS OF USAGE
  • ADVERTISE WITH US
No Result
View All Result
  • Home
  • ARTICLES
  • NEWS
  • BUSINESS
  • EDUCATION
  • ENTERTAINMENT
  • HEALTH
  • POLITICS
  • TECHNOLOGY
  • CRIME
  • METRO
  • SPORTS
  • NEWS EXTRA
  • JOBS & SCHOLARSHIPS
  • TRENDING VIDEO
  • ABOUT US
  • CONTACT US
  • PRIVACY POLICY
  • TERMS OF USAGE
  • ADVERTISE WITH US
No Result
View All Result
DAILY GIST
No Result
View All Result

JUST IN: Marketers Boycott Petrol From Dangote Refinery

Adam PR by Adam PR
September 12, 2024
in BUSINESS
0
Dangote Refinery Gives Update On Petrol Supply In Nigeria Amidst Fuel Scarcity
22.5k
SHARES
22.5k
VIEWS
Share on WhatsAppShare on TwitterShare on Facebook

The Dangote company has announced that local marketers in the country are boycotting products from the Dangote refinery.

The Vice President of Dangote Industries Limited, Devakumar V.G. Edwin stated this during an X (formerly Twitter) space hosted by Nairametrics

He expressed frustration over the development.

Edwin disclosed that despite the refinery’s efforts to supply affordable petroleum products, many traders in Nigeria have refused to purchase from the refinery, preferring to continue importing refined products from abroad.

Speaking during the session, Edwin highlighted the initial vision behind the establishment of the Dangote Refinery, which was aimed at reducing Nigeria’s reliance on imported petroleum products.

“The whole purpose of doing this refinery in Nigeria was to utilize our local crude instead of exporting raw materials and importing finished products,” he explained.

ALSOREAD

Relief For Nigerians As Dangote Refinery Crashes Price Of Cooking Gas

Dangote Refinery Blasted Over Continuous Reduction In Petrol Prices

BBNaija Phyna’s Sister Hit By Dangote Truck Passes Away After Leg Amputation

Nigerian Filling Stations Crash Fuel Price To Compete With NNPCL, Others

Dangote Petroleum Refinery Gets New CEO

“We should be able to refine and use the finished products within Nigeria and produce more to export the surplus.”

According to him, despite the refinery’s large production capacity, local marketers are only purchasing about 3% of the output because of the lower pricing

He noted that the remaining 97% of the refinery’s production, including diesel and jet fuel, is being exported due to a boycott by local traders who refuse to buy at the refinery’s lower prices.

This has forced the refinery to explore international markets, exporting the majority of its refined products, even though it was originally intended to supply the Nigerian market.

Edwin said: “I’m selling 2 to 3% to small traders who are willing to buy, while the rest 95 to 97% I’m forced to export,” while speaking about the quantity of the refinery’s Products sold locally.

He suggested that there is a deliberate attempt by some marketers to block the refinery’s operations, as they prefer to import products rather than support local refining.

He further revealed that local marketers wrote to President Bola Tinubu, complaining about the refinery’s pricing strategies.

“They wrote to His Excellency, the president, claiming that we are disturbing the market by dropping our prices,” Edwin disclosed.

He explained that in response to market dynamics, the refinery reduced prices twice to encourage sales, but this only led to further resistance from the marketers, who accused the refinery of undercutting the market.

Edwin further said since that local marketers have been blocking the distribution of their products within the country, the refinery has been exporting most of its petroleum products.

Edwin said that the refinery can produce up to 54 million liters of refined petroleum products per day, depending on crude oil supply.

However, local crude supplies have been inconsistent, forcing the refinery to rely on imported crude from countries like the U.S. and Brazil.

This situation has been exacerbated by international oil companies (IOCs) prioritizing foreign markets, often selling crude oil at prices significantly above the market rate for local buyers

He added that the refinery’s production capacity is more than sufficient to meet Nigeria’s petroleum needs. He stated that 44% of the refinery’s output is enough to cover 100% of the country’s demand for refined products.

DAILY GIST reports that the Dangote Refinery commence operations in January, 2024

The refinery started diesel and aviation jet fuel supply in April and it is expected to begin the supply of premium motor spirit (PMS) this month (September).

Aliko Dangote, Africa’s richest individual, earlier announced that the supply of diesel from his Dangote Refinery has caused a roughly 60% decrease in the commodity’s price in the local market.

FOLLOW US ON SOCIAL MEDIA

TWITTER — https://x.com/dailygistonline

THREADS —https://www.threads.net/@dailygistonline

FACEBOOK — https://m.facebook.com/oauvoices

INSTAGRAM —https://www.instagram.com/dailygistonline/ 

 

FOR ADVERTS, PUBLICATION AND PROMOTIONS, CONTACT DAILY GIST ON WHATSAPP – 09061956151

Share This News

Tags: DangoteDangote RefineryFuelPetrol
Previous Post

Confusion As Lady Dies While Sharing Testimony in Lagos Church

Next Post

VIDEO: Woman Sl££ps With 40 Men In A Day To Celebrate Her 40th Birthday

Adam PR

Adam PR

AdamPR is a young Blogger, Publisher, Web Designer. For Adverts and Publications, He can be reached on WhatsApp - 09061956151

Related Posts

BREAKING: Dangote Crashes Petrol Price
BUSINESS

Relief For Nigerians As Dangote Refinery Crashes Price Of Cooking Gas

October 7, 2025
BREAKING: Dangote Crashes Petrol Price
BUSINESS

Dangote Refinery Blasted Over Continuous Reduction In Petrol Prices

September 14, 2025
Top 10 States That Borrowed From CBN To Pay Salaries
BUSINESS

JUST IN: CBN Approves Merger Of 2 Popular Nigerian Banks

September 1, 2025
APPLY: FG Rolls Out ₦50,000 Cash Grant For Business Owners Nationwide
BUSINESS

APPLY: FG Rolls Out ₦50,000 Cash Grant For Business Owners Nationwide

August 26, 2025
NNPC Announces Reduction In Petrol Price
BUSINESS

Nigerian Filling Stations Crash Fuel Price To Compete With NNPCL, Others

August 21, 2025
BREAKING: Dangote Crashes Petrol Price
BUSINESS

Dangote Petroleum Refinery Gets New CEO

August 2, 2025
Next Post
VIDEO: Woman Sl££ps With 40 Men In A Day To Celebrate Her 40th Birthday

VIDEO: Woman Sl££ps With 40 Men In A Day To Celebrate Her 40th Birthday

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

TRENDING NEWS

  • VIDEO: Man Flees For His Life After Been Caught Sleeping With Another's Man Wife

    VIDEO: Man On The Run After Been Caught Sleeping With Another’s Man Wife

    25361 shares
    Share 10144 Tweet 6340
  • VIDEO: Female Prison Officer Caught Having S£x With Inmate Inside Cell

    26480 shares
    Share 10592 Tweet 6620
  • Corps Members Reportedly Caught Having Sex In Orientation Camp

    22667 shares
    Share 9067 Tweet 5667
  • VIDEO: Lady’s Br£asts Fall From Her Top While Dancing With Chris Brown At Concert

    21538 shares
    Share 8615 Tweet 5385
  • VIDEO: Lady Disgraced In Lekki After Being Caught Hiding Dollar Bills In Her Private Part

    22988 shares
    Share 9195 Tweet 5747
  • Youths Strip Queen Naked, Beat King, Prince During New Yam Festival In Ondo

    21495 shares
    Share 8598 Tweet 5374
  • Man Caught His Wife Having S£x With Thier Pastor On Matrimonial Bed

    22906 shares
    Share 9162 Tweet 5727
  • I Invited My Friend To Record – Sudent In Viral Sex Tape With Her Teacher Speaks

    21394 shares
    Share 8558 Tweet 5349
  • Assistant Headmaster Suspended After He Was Seen F0ndling Student’s Br£asts In Viral Video

    21321 shares
    Share 8528 Tweet 5330
  • VIDEO: Nigerian Lecturer Caught S3xu@lly Harassing Female Student In A Disturbing Clip

    22445 shares
    Share 8978 Tweet 5611

DAILY GIST reports Latest News in Nigeria and aims to keep Nigerians updated and informed with Reports and Informations in the aspect of Education, Politics, Health, Business, Technology, Jobs, Entertainment. etc

  • Home
  • ABOUT US
  • CONTACT US
  • PRIVACY POLICY
  • TERMS OF USAGE
  • ADVERTISE WITH US
  • DESIGNED BY ADAMPR
  • Privacy Policy

DAILY GIST © 2020 | All Rights Reserved

No Result
View All Result
  • Home
  • ARTICLES
  • NEWS
  • BUSINESS
  • EDUCATION
  • ENTERTAINMENT
  • HEALTH
  • POLITICS
  • TECHNOLOGY
  • CRIME
  • METRO
  • SPORTS
  • NEWS EXTRA
  • JOBS & SCHOLARSHIPS
  • TRENDING VIDEO
  • ABOUT US
  • CONTACT US
  • PRIVACY POLICY
  • TERMS OF USAGE
  • ADVERTISE WITH US

DAILY GIST © 2020 | All Rights Reserved