A huge refinery is basically fighting importers with price cuts. The Dangote refinery significantly increased its fuel supply contribution recently, though imports still dominated overall volume. Data showed domestic refining provided nearly a billion liters of petrol during the period, a notable rise from previous months. Total national supply averaged over seventy million liters daily, with the refinery accounting for about thirty-two million of that.
The jump reflects higher seasonal consumption demands. Dangote Group President Aliko Dangote accused regulators of issuing reckless import licenses despite his refinery having full storage tanks. He claimed this amounted to economic sabotage, complaining to government authorities. In response, the refinery aggressively slashed its pump price, selling at a heavy loss to undercut imported fuel.
Managing Director David Bird announced the facility had begun twenty-four-hour loading operations to sustain supply. The refinery now moves over fifty million liters daily, with more than a thousand trucks loading. Its ex-depot price remained far below the landing cost of imported petrol, creating a brutal price war. Major importers found that their fuel could not compete on cost with the refinery-backed stations.
This market move aimed to discourage continued fuel imports. The price differential made selling imported petrol at a profit nearly impossible for many marketers. The situation highlights a major shift toward domestic refining capacity, disrupting traditional import markets. The standoff continues between the giant local refinery and established fuel importers.
The jump reflects higher seasonal consumption demands. Dangote Group President Aliko Dangote accused regulators of issuing reckless import licenses despite his refinery having full storage tanks. He claimed this amounted to economic sabotage, complaining to government authorities. In response, the refinery aggressively slashed its pump price, selling at a heavy loss to undercut imported fuel.
Managing Director David Bird announced the facility had begun twenty-four-hour loading operations to sustain supply. The refinery now moves over fifty million liters daily, with more than a thousand trucks loading. Its ex-depot price remained far below the landing cost of imported petrol, creating a brutal price war. Major importers found that their fuel could not compete on cost with the refinery-backed stations.
This market move aimed to discourage continued fuel imports. The price differential made selling imported petrol at a profit nearly impossible for many marketers. The situation highlights a major shift toward domestic refining capacity, disrupting traditional import markets. The standoff continues between the giant local refinery and established fuel importers.
