The recent developments at the diesel and jet fuel loading port of the Dangote refinery in Nigeria have garnered significant attention. Devakumar Edwin, the executive director of the Dangote group, confirmed the intense activity at the port, with large quantities of products being evacuated by sea and road. Ships are lining up to load diesel and jet fuel, with loading capacities ranging from 26 to 37 million liters to enhance operational efficiency.
The news was well received by Abubakar Maigandi, president of the Independent Petroleum Marketers Association of Nigeria (IPMAN), who noted that local distributors have agreed on a price of ₦1.225 ($0.96) per liter of diesel following a bulk purchase agreement. The association, which oversees approximately 150,000 gas stations nationwide, expects to add their profit margin to the set price.
In a parallel development, the Petroleum Products Depots and Distributors Association of Nigeria is actively seeking letters of credit to procure petroleum products from the Dangote Refinery. Femi Adewole, the executive secretary of the association, disclosed that discussions with banks are progressing well to facilitate transactions with the refinery.
In January, the refinery announced the commencement of diesel and jet fuel production, further solidifying its reputation as the world’s largest single-train refinery. This development is poised to play a pivotal role in Nigeria’s economy by contributing to the reduction of the country’s reliance on fuel imports.