The Dangote Refinery, Nigeria’s largest oil refinery, is set to start producing petrol by August 2024 after resolving its crude oil supply issues, its president, Alhaji Aliko Dangote, announced.
The refinery, located in the Lekki Free Trade Zone in Lagos, had faced challenges in securing crude oil supply from international oil companies (IOCs), which had affected its production capacity. However, following intervention by the Nigerian National Petroleum Company Limited (NNPCL) and the federal government, the refinery has secured a reliable crude oil supply.
Speaking to senior journalists during a guided tour of the refinery, Dangote expressed gratitude to the government and NNPCL for their efforts in resolving the issue. He highlighted the importance of local crude oil supply for the refinery’s operations and expressed appreciation for the support received.
Earlier, concerns were raised about the difficulties faced by the refinery in purchasing crude oil from IOCs due to their refusal to supply necessary quantities at a reasonable price. The vice president of oil and gas at Dangote Industries Limited described the situation as frustrating and said it was affecting the refinery’s output.
However, with the resolution of the crude supply issue, the refinery is now poised to meet the demand for petrol in Nigeria and beyond. The refinery’s fertiliser unit, which was shut down due to the crude supply challenges, is also set to resume production in two weeks’ time. This development is expected to boost fertiliser availability for farmers across Nigeria and other African countries.
Dangote noted that there is a huge demand for fertiliser on the continent and that his company is committed to meeting this demand. He emphasized that resolving this challenge was essential to support agricultural growth and development.
The successful take-off of the Dangote Refinery is seen as a major milestone in Nigeria’s bid to reduce its reliance on imported petroleum products and improve its energy security.
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