Emmanuel Ochayi
Dangote Refinery has successfully enlisted the support of three major oil marketers association, representing about 75% share of the Nigerian market, for the distribution of its refined products.
In an official statement released on Tuesday, the Dangote Group named the registered marketers as the Depot and Petroleum Products Marketers Association of Nigeria (DAPPMAN), the Major Oil Marketers Association (MOMAN) Nigeria, and the Independent Petroleum Marketers Association of Nigeria (IPMAN).
READ ALSO: Dangote Refinery: Fueling Nigeria’s Economic Resurgence Or Monopoly Menace?
“Dangote is actively exploring potential partnerships for distribution and is considering other marketers that have expressed interest in collaboration,” the statement said, highlighting the company’s commitment to establishing a robust distribution network.
After initial delays, the $19 billion refinery commenced production last week, marking a milestone. Positioned as the largest single-train refinery globally, Dangote’s refined products are poised to enter the market following the completion of all regulatory approvals.
The company outlined its initial focus on distributing diesel and aviation fuel.
In a tweet, the Dangote Group reiterated, “Three prominent associations, that constitute 75 per cent of the total market in Nigeria have been registered.”
A direct quote from the Dangote Group provided insight into their perspective on the registered oil marketers: “The Depot and Petroleum Products Marketers Association of Nigeria, the Independent Petroleum Marketers Association of Nigeria, and the Major Oil Marketers Association of Nigeria.”
The statement also mentioned ongoing considerations for other interested parties wishing to partner with the refinery.
Despite being a leading oil producer in Africa, Nigeria heavily relies on imported fuel and diesel due to inadequate refining capacity. The commencement of operations at the Dangote Refinery, with its 650,000 bpd capacity, is expected to decrease the country’s dependence on imports, contributing to increased domestic production and refining capabilities.
As earlier reported by Prime Business Africa, Aliko Dangote revealed that the refinery holds a license to refine over 300,000 barrels of crude oil per day. Originally scheduled for a 2021 opening, the refinery was officially inaugurated by then-President Muhammadu Buhari in May 2023.
As Dangote Refinery enters production, expectations also rise for the Port Harcourt refinery to commence operations, further shaping the landscape of Nigeria’s oil industry.
