Nigeria’s Dangote Refinery Offers Credit Facilities to Marketers
(Bloomberg) -- Nigerian billionaire Aliko Dangote’s 650,000-barrel-a-day plant said on Sunday it will now offer a credit facility to some dealers in an effort to boost supply in Africa’s most populous country.
Dealers purchasing a minimum of 500,000 liters of gasoline will be able to obtain an additional half-a-million liters on credit for two weeks, according to a statement by the refinery.
Starting Aug. 15, the mega-refinery will also provide free shipping of gasoline products to dealers across the country, using its newly purchased 4,000 trucks fueled by compressed natural gas.
The plan will see the refinery slashing its 2-million-liter cap on gasoline sales by as much as 75%.
“This strategic program is part of our broader commitment to eliminating logistics costs, enhancing energy efficiency, promoting sustainability and supporting Nigeria’s economic development,” according to the statement.
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