The management of Dangote Refinery has stated that the cushioning effect anticipated from its operations has been impacted by global market forces, including crises in the Middle East — the world’s crude oil hub — despite the operation of domestic refining capacity and the continued agonising retail prices of petrol across Nigeria.
David Bird, the refinery’s Managing Director, said in an interview with Arise Television that the refinery is fully exposed to global market forces and operates without subsidies, making it vulnerable to fluctuations driven by geopolitical tensions.
He added that all cost inputs, from crude oil to goods and insurance, are affected, although the refinery attempts to maintain stability within a commercially acceptable range Read More From Source/Original…