By Edson Baraukwa | Africa Guardian
Aliko Dangote, Chairman of Dangote Group, has announced that the Dangote refinery is poised to meet the petrol demands of not only Nigeria but also the entire sub-Saharan region. The refinery, with a production capacity of 650,000 barrels per day, has commenced petrol production.
Speaking to the press during a recent inspection of the facility, Dangote praised President Tinubu’s Naira-for-Crude initiative. He highlighted that this initiative will stabilize the Naira by addressing 40% of the market’s dollar demand. The refined products will be distributed within Nigeria once arrangements with the Nigerian National Petroleum Company Limited are finalized.
Dangote emphasized the significance of the day, noting that Nigeria has not produced petrol domestically for many years. He expressed gratitude to President Tinubu and the Nigerian government for fostering an environment that enabled the successful operation of the refinery. He added, “This refinery will not only meet Nigeria’s petrol demand but will also address the needs of sub-Saharan Africa.”
Addressing concerns about fuel smuggling and misreporting, Dangote assured that the refinery’s operations will ensure transparency. “We will track every loaded truck and ship to verify true consumption,” he stated.
He further highlighted the refinery’s high-quality output, which he believes will enhance vehicle engine longevity and performance. “Our petrol quality will be on par with the best globally,” Dangote asserted. “We aim to achieve import substitution, conserve foreign exchange, stabilize the Naira, and help reduce inflation and living costs.”
Additionally, Dangote announced that starting in October, the refinery will also meet the country’s entire demand for polypropylene, eliminating the need for imports of this material.
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