We’ve Started Buying Diesel, Aviation Fuel From Dangote Refinery – Marketers

 

Oil marketers have confirmed they have started buying diesel and aviation fuel from the $20 billion Dangote Refinery.

 

This was confirmed by Chief Executive Officer/CEO, Major Energy Marketers Association of Nigeria, MEMAN, Mr. Clement Isong.

 

In a telephone interview with Vanguard, he said, “Our members have started lifting diesel and aviation fuel from the Dangote Refinery. It is a good development that will impact the domestic market.”

 

Similarly, the Executive Secretary, smaller Depots and Petroleum Products Marketers Association of Nigeria, Femi Adewole, said: “Our members are discussing with banks, and these talks have reached advanced stages. When we have our letters of credit, we will begin lifting products.”

 

However, the President, Independent Petroleum Marketers Association of Nigeria, Alh Abubakar Maigandi Shettima-Garima, could not be reached, but another member of the association said, “Independent marketers have started lifting diesel from the plant. With improved supply, it is hopeful that the domestic market will be positively impacted.”

 

On his part, Dangote’s Group Executive, Devakumar Edwin, who oversees the development, said, “We have substantial quantities. Products are being evacuated both by sea and road. Ships are lining up one after another to load diesel and aviation jet fuel.

 

Checks by Vanguard indicated that local oil marketers had before the lifting agreed on a price of 1,225 naira ($0.96) per litre of diesel under the bulk purchase agreement signed with Dangote Refinery and would mark up prices to cover logistics and other costs.