Aliko Dangote, Chairman of Dangote Group, has called on petroleum marketers, including the Nigerian National Petroleum Company (NNPC), to start purchasing petrol directly from his refinery to meet Nigeria’s fuel needs.
After a meeting with President Bola Tinubu at Aso Rock Villa in Abuja, Dangote announced that his refinery is ready to supply fuel. He stated that, when operating at full capacity, it can produce over 30 million liters of fuel daily. Currently, the refinery has a reserve of 500 million liters, which could meet the country’s fuel demand for more than 12 days without any need for imports.
“We are fully prepared,” Dangote assured reporters, explaining that the refinery’s production capacity could greatly reduce Nigeria’s reliance on imported fuel.
In response to concerns about fuel shortages in various parts of the country, Dangote clarified, “I produce the fuel, but I’m not in the retail business. Retailers should come and pick up the fuel they need from us. If they don’t, there’s little I can do.”
He urged either NNPC or fuel marketers to stop importing and instead buy locally, since the refinery has ample fuel available. He emphasized that as fuel is distributed, the refinery will continue to pump out more.
He also highlighted the costs involved in holding such large reserves: “It’s costly to store a billion liters in our tanks daily. If retailers buy locally, fuel queues would disappear.”
More updates to follow.
