Dangote Refinery is in discussions with eight African countries – South Africa, Angola, Niger Republic, Chad, Burkina Faso and Central African Republic and Namibia – for fuel supply deals. This development comes after Ghana indicated interest in purchasing fuel from the refinery, with projections to save $400 million monthly on costly imports from Europe. The discussions were described as being at an advanced stage and, if successful, will see the Lagos-based refinery expand its reach across the African continent. In September, Dangote Group chairman Aliko Dangote stated that the refinery will meet the demand for petrol, diesel, and other products across Sub-Saharan Africa, pledging high-quality fuel that aligns with global standards. However, pricing disputes with Nigerian petroleum marketers, who argue that the refinery’s petrol prices are high, have created challenges. As the refinery reaches full capacity and negotiates competitive pricing, local marketers may find incentives to shift toward domestic procurement.
SOURCE: BUSINESS INSIDER
