The Dangote Refinery and Petrochemical plant is gearing up to commence fuel exports to various African countries, including South Africa, Angola, and Namibia. Sources confirm that negotiations are in advanced stages with these countries, marking a significant move towards leveraging the 650,000-barrel-per-day capacity of the Lekki-based facility.
Additionally, discussions are ongoing with four other African countries Niger Republic, Chad, Burkina Faso, and the Central African Republic further expanding the refinery’s reach across the continent.
Ghana has also shown interest in sourcing petrol from the refinery, with the Chairman of the Ghana National Petroleum Authority, Mustapha Abdul-Hamid, stating that this arrangement could potentially eliminate Ghana’s monthly $400 million expenditure on fuel imports from Europe.
The discussions reflect a growing recognition of Dangote Refinery’s potential to offer a reliable supply of petroleum products across Africa, addressing the continent’s fuel demand sustainably.
However, despite its capacity, some local Nigerian fuel marketers remain hesitant to buy from Dangote. They argue that the refinery’s prices are excessively high, prompting them to seek alternative sources for fuel importation.
The Independent Petroleum Marketers Association of Nigeria (IPMAN) and the Petroleum Products Retail Outlets Owners Association of Nigeria (PETROAN) have expressed a preference for importing cheaper petrol, which they believe would provide relief to consumers grappling with high prices following the removal of the fuel subsidy.
To facilitate these imports, marketers are seeking approvals from the Central Bank of Nigeria (CBN) for foreign exchange access and permits from the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) to ensure adherence to quality standards.
However, the NMDPRA has clarified that import licenses cannot be granted to associations collectively but must be obtained through individual applications by marketers. This regulatory stance emphasizes adherence to existing laws governing the issuance of import permits.
Reacting to these developments, PETROAN’s National Public Relations Officer, Dr. Joseph Obele, accused Dangote of attempting to monopolize the fuel market.
He described Dangote as an aggressive competitor aiming to dominate the sector by limiting market entry for others. Obele assured that once regulatory approvals are secured, the association’s imported petrol would drive down prices, alleviating the financial burden on Nigerians.
