Marketers Say Dangote Refinery Built To Sell Expensive Fuel To Nigerians

Nigerian fuel marketers have raised concerns about the pricing model of the newly operational Dangote Refinery, arguing that it is geared towards selling fuel at a high price to local consumers. According to the marketers, the refinery's pricing structure is aligned with international rates, which results in more expensive fuel prices in Nigeria. They argue that, instead of making fuel cheaper, the refinery appears to be prioritizing profitability on a global scale, particularly in foreign markets, where it can sell refined products at competitive rates.

The refinery, which is Africa's largest, has the potential to significantly reduce Nigeria’s dependence on imported fuel by refining crude oil locally. However, due to its commitment to international pricing standards, many Nigerians may not see the anticipated relief from the high cost of fuel that they had hoped for. 

This has sparked debate on whether the refinery will deliver the expected economic benefits to the country, especially given the promise of reduced import dependency and lower fuel costs for Nigerians.

This issue comes amidst broader challenges in Nigeria’s oil sector, including subsidy removals and fluctuating global oil prices, which have already placed financial strain on Nigerian citizens. The high cost of fuel has also contributed to rising inflation, impacting the cost of living across the country.....

Edited from Punch