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Nigeria's Dangote refinery supplies petroleum products to local market

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Nigeria's Dangote oil refinery started supplying petroleum products to the local market on Tuesday, a company executive and fuel marketing associations said, a major step in the country's quest for energy independence.

A view of the newly commissioned Dangote oil refinery is pictured in Ibeju-Lekki, Lagos, Nigeria, May 22, 2023. REUTERS/Temilade Adelaja/File PhotoLAGOS, April 2 - Nigeria's Dangote oil refinery started supplying petroleum products to the local market on Tuesday, a company executive and fuel marketing associations said, a major step in the country's quest for energy independence.

It can refine up to 650,000 barrels per day and will be the largest in Africa and Europe when it reaches full capacity this or next year. "We have substantial quantities. Products are being evacuated both by sea and road. Ships are lining up one after another to load diesel and aviation jet fuel," Edwin told Reuters.

Local oil marketers agreed a price of 1,225 naira per litre of diesel following a bulk purchase agreement, before putting their mark-up, said Abubakar Maigandi, head of the Independent Petroleum Marketers Association of Nigeria.Another marketers' group, the Depots and Petroleum Products Marketers Association of Nigeria said its members were seeking letters of credit to buy petroleum products from Dangote.

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