In a significant development, oil marketers have secured a six-month agreement with the Dangote Refinery to supply 28 million litres of petrol daily for domestic consumption.
This deal is expected to bring succor to the Nigerian market, which has long been plagued by fuel scarcity and price volatility.The agreement was reached at a stakeholders’ meeting in Abuja over the weekend, where it was resolved that oil marketers would cease importing petroleum products.
Instead, they will rely on the Dangote Refinery for their supply needs. If necessary, imports will only be considered when products are unavailable from the refinery.The Dangote Refinery, valued at $20 billion, has also announced a reduction in the ex-depot price of petrol from N990 per litre to N970 per litre.
This move is seen as a gesture of appreciation for the support of Nigerians.Confirming the agreement, the Petroleum Products Retail Outlets Owners Association of Nigeria (PETROAN) stated that the deal is expected to stabilize the supply of petroleum products in the country.
This development is a welcome relief for Nigerians, who have long suffered from fuel scarcity and high prices. The partnership between the Dangote Refinery and oil marketers is expected to bring about a new era of stability and affordability in the petroleum sector.