Dangote Refinery Speaks on Petrol Supply Capacity, Announces New Prices
- Dangote Petroleum Refinery says it can supply 75 million litres of petrol daily to Nigerians
- This is well above the country's estimated consumption figure of 50 million litres
- The announcement comes after Dangote raised its petrol gantry price to N799 per litre
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Legit.ng journalist Dave Ibemere has extensive experience in business journalism, with in-depth knowledge of the Nigerian economy, stocks, and general market trends.
The Dangote Petroleum Refinery has reaffirmed its ability to supply petrol well above Nigeria’s domestic consumption
In a statement issued on Thursday, January 29, the refinery said it can supply up to 75 million litres of Premium Motor Spirit (petrol) daily, compared with an estimated national consumption of about 50 million litres.
Source: Getty Images
Dangote noted that beyond petrol, the refinery can also supply 25 million litres of diesel and 20 million litres of aviation fuel daily, volumes it said are significantly higher than estimated local demand.
Dangote boasts about its capacity
According to the company, supplying volumes above prevailing demand provides critical buffers that enhance market stability, reduce the need for emergency imports, and support supply continuity during periods of peak demand or logistical disruptions.
Part of the statement reads:
The management of Dangote Petroleum Refinery would like to reiterate its capability to supply the following petroleum products of the highest international quality standards to marketers and stakeholders:
"We can supply 75 million litres of PMS (petrol) per day, compared with Nigeria’s estimated consumption of 50 million litres per day; 25 million litres of AGO (diesel) per day, against an estimated demand of 14 million litres; and 20 million litres of jet fuel per day, far exceeding the estimated maximum domestic consumption of 4 million litres."
Dangote also reaffirmed its commitment to full regulatory compliance and ongoing cooperation with the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), stating that its supply strategy aligns with efforts to ensure market stability and orderly downstream operations.
The statement continued:
"We reaffirm our commitment to full regulatory compliance, continued cooperation with regulatory authorities, in support of market stability and national energy security objectives."
Source: Facebook
Dangote new petrol prices
The reaffirmation comes days after the refinery announced an increase in its gantry price of petrol to N799 per litre from N699 per litre.
The new price is about N70 higher than the estimated landing cost of imported petrol, Punch reports,
Following the adjustment, Dangote said MRS filling stations should sell petrol at N839 per litre.
Checks also showed that the new price triggered further increases, with several filling stations raising pump prices from around N739 per litre to N839 or higher.
NNPC announces new petrol price
Earlier, Legit.ng reported that the Nigerian National Petroleum Company Limited (NNPCL) retail outlets have adjusted the pump price of Premium Motor Spirit (PMS), also known as petrol, across the country.
Survey carried out by Legit.ng showed that in Lago,s NNPC retail outlets were dispensing fuel to motorists at N840.
A review of NNPC's current prices across Nigeria shows that the highest pump price is in Gombe.
Source: Legit.ng
