The Dangote Refinery and Petrochemical is set to begin fuel exports to South Africa, Angola, and Namibia.
A highly credible source, who confirmed this exclusively to one of our correspondents on Friday, said the management of the 650,000-barrel per-day capacity refinery was at advanced stages of talks with the countries to start lifting fuel.
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Ghana was recently reported to have expressed interest in buying petrol from the $20bn Lekki-based refinery.
The Chairman of the National Petroleum Authority, Ghana, Mustapha Abdul-Hamid, said the arrangement with Dangote refinery would end his country’s monthly $400m fuel imports from Europe.
“I can confirm to you that talk is actually at advance stage with Ghana, Angola, Namibia and South Africa, while initial discussion is coming up with Niger, Chad, Burkina Faso and Central African Republic,” the source said.
When asked why marketers are insisting on not buying from Dangote despite the refinery’s capacity, the source said the dealers had hidden agenda.
“However, between now and January 2025, their plan would be exposed. Dangote refinery remains the hope of this country for a sustainable supply of petrol and the refinery has the capacity to serve the entire country,” the source added.
Meanwhile, local marketers have resolved to import fuel from outside the country.
The Independent Petroleum Marketers Association of Nigeria and the Petroleum Products Retail Outlets Owners Association of Nigeria last week insisted on fuel importation after accusing the Dangote refinery of selling fuel to Nigerians at an exorbitant price.
The marketers are awaiting the approvals of the Central Bank of Nigeria and the Nigerian Midstream and Downstream Petroleum Regulatory Authority to import cheaper petrol.
The marketers argued that importing more affordable petrol would offer relief for consumers still adjusting to the price surges following the removal of fuel subsidy.
However, to proceed, the marketers requested access to foreign exchange from the CBN, and permits from NMDPRA to ensure compliance with fuel quality and regulatory standards.
“You should know that Dangote is just out to close all the doors and windows so that no person enters the market. He is determined to ensure that nobody enters the market as a competitor. We assure Nigerians that as soon as the regulatory agency approves our authority to import, this price of PMS that is causing pain to Nigerians right now will crash to the barest minimum.
“The product we are planning to import is one of the best products so far, far better than his (Dangote) own, but he is just telling Nigerians that any product that is coming into the country is not better than his own.
“We call on Nigerians to support the call for dismantling monopolies so that we can liberate the market; otherwise, we will remain in the trap we are. We are trapped at the moment; we are trapped with exploitation and the only way out of the trap is to dismantle every dimension of monopoly and we are calling on Nigerians to support us,” Obele said.
