Saturday, 10 May 2025 04:35

Marketers import N2.4tn petrol as competition with Dangote Refinery intensifies

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Tensions have escalated between major oil marketers and the Dangote petroleum refinery as they compete for control of Nigeria's downstream oil sector.

Aliko Dangote recently stated his $20bn refinery is "fighting for survival" against what he describes as sabotage by oil sector cabals resisting local refining. Despite this, he expressed confidence in eventual success.

Between March 1 and May 9, 2025, marketers imported 2.57 billion liters of petrol valued at approximately N2.42tn, choosing foreign suppliers over the Dangote facility. March saw imports of 755.7 million liters, April surged to 1.47 billion liters, and the first 10 days of May brought in 331.33 million liters.

Dangote has previously alleged that international oil companies denied his refinery adequate crude supply, and accused the Nigerian Midstream and Downstream Petroleum Regulatory Authority of issuing import licenses for substandard products.

The NMDPRA reports daily petrol imports have declined by 67% from August 2024 to April 2025, dropping from 44.6 million to 14.7 million liters, attributed to increased supply from Dangote, Port Harcourt, and modular refineries.

DAPPMAN Executive Secretary Olufemi Adewole warned of an emerging monopoly, dismissing "cabal" allegations but acknowledging vested interests among depot owners who've invested billions. He claimed Dangote's facility cannot yet meet local consumption needs and that the refinery prefers selling to selected marketers rather than offering bulk depot loading.​​​​​​​​​​​​​​​​

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