A new report by S&P Global indicates that an outstanding 60% of all of Nigeria’s domestic petrol supply is coming from the Dangote Refinery, as the facility inches closer to its full capacity.
A Dangote Group official, last month, revealed to Platts that the petroleum refinery was generating more than 30 million liters of gasoline per day and that the facility was more than 85% utilized.
That supply, or around 200,000 barrels per day, would meet the majority of Nigeria’s expected 350,000 barrels per day of gasoline demand, according to S&P Global Commodity Insights analysts.
Contrary to this finding, as seen on the Punch newspaper, the Nigerian Midstream and Downstream Petroleum Regulatory Authority, has stated that the three operational refineries in Nigeria contribute less than 50% of the nation’s daily petrol consumption.
Earlier in the month, Alhaji Aliko Dangote, the CEO of the Dangote Group, revealed that his oil refinery could reach full capacity within the next 30 days.
In the refinery’s defense as seen in the S&P Global report, some sources suggest that the Dangote refinery is nearly entirely responsible for the decline in gasoline imports.
State-owned refineries seem to be contributing next to nothing to local gasoline balances by the end of February.
Trade sources claim that Port Harcourt is unavailable and that Warri is undergoing repair, as stated by Nigeria’s national oil firm, NNPC, on February 8.
This is despite the fact that initial reports indicated that these state refineries were up and running.
