In a surprising turn of events, petrol marketers in Nigeria have complained to President Bola Tinubu that the diesel price of ₦900 per litre offered by the Dangote Refinery is too cheap.
According to Devakumar Edwin, Vice President of Dangote Industries Limited, the marketers claimed that the low price is negatively impacting their businesses.
This development comes after the Dangote Refinery significantly reduced its diesel price from nearly ₦2,000 to below ₦1,000, causing a stir in the market.
Edwin revealed that the marketers’ complaint to President Tinubu highlights the challenges faced by the Dangote Refinery in selling its diesel products locally, with about 29 tankers remaining unsold daily.
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The situation raises questions about the competitiveness of local petroleum product importers and the impact of the Dangote Refinery’s pricing strategy on the market.
