twitter Facebook linkedin acp

Independent Petroleum Marketers Association of Nigeria will acquire diesel at US$0.96 per l. (Image source: Adobe Stock)

The US$20bn, 650,000-bpd Dangote Refinery in Nigeria has completed its first shipment of diesel and jet fuel to the local market since it started production in January 

Confirming this major development in an interview to Reuters, Devakumar Edwin, 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."

"Ships load a minimum of 26 mn l, though we try to push for 37 mn l vessels, for ease of operations."

Procurement initiated by major petroleum associations 

While the Independent Petroleum Marketers Association of Nigeria that excersises stronghold across 150,000 retail stations has closed a bulk purchase deal with Dangote to acquire diesel at US$0.96 per l, the Depots and Petroleum Products Marketers Association of Nigeria are still undergoing formalities to procure products from the refinery.

“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,” said Femi Adewole, the association’s executive secretary.