RateCaptain
  • Home
    • About Us
    • Contact Us
  • FX Rates
  • Money Market
  • Cryptocurrency
  • Commodities
  • Corporates
No Result
View All Result
Subscribe
  • Home
    • About Us
    • Contact Us
  • FX Rates
  • Money Market
  • Cryptocurrency
  • Commodities
  • Corporates
No Result
View All Result
RateCaptain
No Result
View All Result
Home company news

Dangote Refinery Asserts Fuel Supply Strength Amid Marketers’ Criticism

Akpan Edidong by Akpan Edidong
May 12, 2025
in company news, Economy
Reading Time: 2 mins read
A A
0
Dangote Bounces Back, Gains N313.2 Billion in 24 Hours Following Stock Losses
Share on FacebookShare on TwitterShare on WhatsappShare on Telegram

The Dangote Petroleum Refinery has pushed back against claims from oil marketers that it lacks the capacity to meet Nigeria’s fuel needs, insisting it produces more than enough for both domestic consumption and exports.

Officials from the $20 billion facility dismissed recent allegations by members of the Depot and Petroleum Products Marketers Association of Nigeria (DAPPMAN), who suggested the refinery’s output is falling short. Speaking anonymously, a refinery representative emphasized that Dangote’s operations are robust, with millions of litres distributed daily and surplus fuel shipped to other African markets.

AlsoRead

Nigeria’s External Reserves Drop by $731 Million in Early April

FG Releases Revised Import Prohibition List, Bans Paracetamol, Tomato Paste and others.

Nigeria’s Bond Yields Rise Slightly as DMO Prepares N700 Billion Auction

This dispute follows remarks by Dangote Group founder, Aliko Dangote, who accused certain powerful interests of attempting to derail the refinery’s progress. He argued that entrenched importers, who profited from years of subsidized fuel shipments, are resisting the shift toward self-sufficiency in refining.

DAPPMAN’s Executive Secretary, Olufemi Adewole, rejected talk of a conspiracy but acknowledged private depot owners’ deep investments in the sector. He maintained that these players are still crucial to bridging supply gaps, despite Dangote’s assertions of surplus production.

According to Adewole, Nigeria’s fuel consumption is still not fully met by local output. However, Dangote officials countered, claiming that historic consumption figures were inflated during the subsidy era, a tactic they say masked smuggling and inefficiencies. They now promise that the refinery’s operations will soon reveal Nigeria’s true fuel demand.

Refinery Vice President Davakumar Edwin detailed current production levels, noting daily outputs of 57 million litres of petrol, 20 million litres of jet fuel, and 37 million litres of diesel. With Nigeria’s local consumption estimated at about 46 million litres per day, Edwin argued that Dangote’s 650,000 barrels per day capacity can comfortably serve the domestic market, while still exporting significant volumes.

Storage figures further back up these claims, with the refinery reportedly maintaining vast reserves — including tanks capable of holding hundreds of millions of litres of various petroleum products, enough to supply the country for weeks without disruption.

President Bola Tinubu’s recent policy moves to reduce fuel imports and boost local refining have added fuel to the ongoing debate. Dangote’s camp supports the administration’s ‘Nigeria First’ stance but warns that vested interests may continue to resist these changes to protect their profits.

Accusations have also emerged that some importers engaged in questionable practices during the subsidy years, including round-tripping — a scheme where fuel is documented as imported but never actually delivered, boosting illegal profits.

As of April 2025, official figures from the Nigerian Midstream and Downstream Petroleum Regulatory Authority indicate a sharp drop in fuel imports, from over 44 million litres daily last year to under 15 million litres now. Still, discrepancies in reported consumption figures have sparked confusion and underscored ongoing challenges in accurately measuring Nigeria’s fuel demand.

Dangote, undeterred by the growing pushback, remains confident. “We’re fighting, and I know we will win,” he stated, vowing to overcome the entrenched opposition and solidify his refinery’s position as a cornerstone of Nigeria’s energy security.

As the refinery ramps up toward full capacity, the spotlight will remain firmly on whether it can deliver on its promises and reshape Nigeria’s petroleum landscape.

Tags: Dangote
Previous Post

Bitcoin Breaks $104K as US-China Trade Talks Spark Investor Optimism

Next Post

CBN Ups Treasury Bills Auction Offer to N550bn Amid Slower Investor Demand

Related News

CBN Supplies $29.5 Million at FX Auction as Naira Depreciates at I&E Window.

Nigeria’s External Reserves Drop by $731 Million in Early April

by Jide Omodele
April 28, 2026
0

Nigeria’s foreign exchange reserves came under renewed pressure in April 2026, declining by approximately $731 million within the first three...

The Double-Edged Sword of VAT in Nigeria: Exploitation or Economic Lifeline?

FG Releases Revised Import Prohibition List, Bans Paracetamol, Tomato Paste and others.

by Victoria Attah
April 28, 2026
0

The Federal Government has released a revised schedule of prohibited trade items as part of efforts to deepen economic reforms,...

DMO Announces Subscription Offering for Federal Government Savings Bonds.

Nigeria’s Bond Yields Rise Slightly as DMO Prepares N700 Billion Auction

by Jide Omodele
April 28, 2026
0

Nigeria’s sovereign bond market ended the week on a cautious note, with average yields edging higher as investors adopted a...

Federal Government to Generate N12bn Annually from new vehicle tax.

Nigeria Revenue Service Denies Introduction of New Vehicle Tax

by Victoria Attah
April 27, 2026
0

The Nigeria Revenue Service (NRS) has firmly debunked a viral infographic claiming that the Federal Government has introduced a new...

Next Post
NEC Affirms CBN $3 Billion Loan for Naira Stability

CBN Ups Treasury Bills Auction Offer to N550bn Amid Slower Investor Demand

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Recommended

IMF Cautions Central African Republic against Adopting Bitcoin

Bitcoin Tests $80,000 Resistance as It Remains Range-Bound Ahead of FOMC Decision

April 29, 2026
Naira appreciated to N738/$ in the Parallel Market

Naira Weakness Pushes Foreign Currency Taxes to N6.33 Trillion in 2025

April 29, 2026

Popular Story

  • CBN to Release Full List of Licensed Bureau De Change Operators

    CBN Maintains Restrictions on BDC Access to Official Forex Market Over Compliance Concerns

    0 shares
    Share 0 Tweet 0
  • FG Takes Governors to Supreme Court Over Local Government Allocations

    0 shares
    Share 0 Tweet 0
  • Central Bank Urged to Scrap Outdated Bank Reference Requirement for Account Opening

    0 shares
    Share 0 Tweet 0
  • Naira Weakness Pushes Foreign Currency Taxes to N6.33 Trillion in 2025

    0 shares
    Share 0 Tweet 0
  • Bitcoin Tests $80,000 Resistance as It Remains Range-Bound Ahead of FOMC Decision

    0 shares
    Share 0 Tweet 0

RateCaptain

We bring you the most accurate in new and market data. Check our landing page for details.

  • Home
  • About Us
  • Privacy Policy
  • Terms & Conditions
  • Disclaimer
  • Cookie Policy
  • Contact Us

Copyright © 2022 RateCaptain - All rights reserved by RateCaptain.

No Result
View All Result
  • Home
    • About Us
    • Contact Us
  • FX Rates
  • Money Market
  • Cryptocurrency
  • Commodities
  • Corporates

Copyright © 2022 RateCaptain - All rights reserved by RateCaptain.

RateCaptain
Manage Cookie Consent
To provide the best experiences, we use technologies like cookies to store and/or access device information. Consenting to these technologies will allow us to process data such as browsing behavior or unique IDs on this site. Not consenting or withdrawing consent, may adversely affect certain features and functions.
Functional Always active
The technical storage or access is strictly necessary for the legitimate purpose of enabling the use of a specific service explicitly requested by the subscriber or user, or for the sole purpose of carrying out the transmission of a communication over an electronic communications network.
Preferences
The technical storage or access is necessary for the legitimate purpose of storing preferences that are not requested by the subscriber or user.
Statistics
The technical storage or access that is used exclusively for statistical purposes. The technical storage or access that is used exclusively for anonymous statistical purposes. Without a subpoena, voluntary compliance on the part of your Internet Service Provider, or additional records from a third party, information stored or retrieved for this purpose alone cannot usually be used to identify you.
Marketing
The technical storage or access is required to create user profiles to send advertising, or to track the user on a website or across several websites for similar marketing purposes.
  • Manage options
  • Manage services
  • Manage {vendor_count} vendors
  • Read more about these purposes
View preferences
  • {title}
  • {title}
  • {title}
?>