Dangote Refinery has disclosed that it is being forced to export 95-97 percent of its Premium Motor Spirit (petrol).
The Refinery explained that this is due to low patronage by marketers in Nigeria.
The Vice President, Oil and Gas at Dangote Industries Limited, Devakumar Edwin, disclosed this on Wednesday during an X Space session organized by Nairametrics.
The indigenous oil firm revealed that it sells only 2 to 3 percent of its petrol to oil marketers who are willing to purchase from them.
Edwin gave insights into the challenges facing the Dangote Refinery and the country’s oil and gas sector.
“I’m selling 2 to 3 percent to small traders who are willing to buy, while the rest 95 to 97 percent I’m forced to export,” he said while speaking about the quantity of the refinery’s products sold locally.
The development comes as Sunday’s date for NNPCL to lift Dangote Refinery’s fuel approaches without a visible plan.