Marketers Withdraw from Dangote Refinery Deal Amid Falling Fuel Costs

Independent petroleum marketers have backed out of a petrol supply deal with Dangote Refinery as global petrol prices plummeted, causing the fuel landing costs to crash. The deal, aimed at stabilizing domestic supply and retail pump prices, has unraveled, leading to a fresh wave of petrol import agreements.

The disagreement arose as import costs fell below Dangote's selling price, making imports more attractive. This development has highlighted the challenges faced by the Nigerian fuel market in adjusting to global price fluctuations.