The Dangote Refinery and Petrochemical is poised to commence fuel exports to South Africa, Angola, and Namibia, according to credible sources. Four additional African countries – Niger Republic, Chad, Burkina Faso, and Central African Republic – have also initiated negotiations with the refinery.
Ghana has previously expressed interest in purchasing petrol from the $20 billion Lekki-based refinery. Chairman of the National Petroleum Authority, Ghana, Mustapha Abdul-Hamid, stated that the arrangement would end Ghana’s monthly $400 million fuel imports from Europe.
A source close to the negotiations revealed, “Talks are at an advanced stage with Ghana, Angola, Namibia, and South Africa, while initial discussions are underway with Niger, Chad, Burkina Faso, and Central African Republic.”
However, local marketers have opted to import fuel from outside the country, citing exorbitant prices from Dangote Refinery. The Independent Petroleum Marketers Association of Nigeria and the Petroleum Products Retail Outlets Owners Association of Nigeria are awaiting approvals from the Central Bank of Nigeria and the Nigerian Midstream and Downstream Petroleum Regulatory Authority.
Dr. Joseph Obele, National Public Relations Officer of PETROAN, described Dangote as an “aggressive competitor” seeking to monopolize the market. “We assure Nigerians that as soon as the regulatory agency approves our authority to import, the price of PMS will crash to the barest minimum.”
The Nigerian Midstream and Downstream Petroleum Regulatory Authority clarified that import licenses would only be granted to individual marketers, not associations.
The development comes as the Dangote Refinery prepares to increase its fuel supply to meet regional demand.