Dangote Refinery’s direct petrol supplies have rattled private depots, slashing demand as 1,000 trucks hit the market. Aliko Dangote says the refinery is ending Nigeria’s decades-long fuel queues and reshaping Africa’s energy future.
Private depots in Lagos and nearby areas were largely deserted yesterday as Dangote Petroleum Refinery began direct fuel supplies to marketers, bypassing depot operators, according to Vanguard reports.
Sources confirmed that the rollout of 1,000 trucks destabilized the downstream sector, leaving depots with skeletal operations. According to Petroleumprice.ng CEO, Olatide Jeremiah, Dangote’s dominance is forcing a market reset: “For the first time, global oil prices are rising while local depot prices are falling — that’s the power of local refining.”
Marking the refinery’s one-year petrol supply anniversary, Aliko Dangote said the 650,000 bpd plant has significantly improved Nigeria’s energy security, ending decades of persistent fuel queues. He stressed that the refinery is not “taking food from anyone’s table” but rather restoring pride to Nigeria and Africa, where most countries still rely on petrol imports.
