The Dangote Oil Refinery has enough fuel, with 500 million liters of
petrol in storage, to meet Nigeria’s demand, according to billionaire
founder Aliko Dangote. Dangote made this assertion to counter local fuel
marketers’ claims that the refinery cannot meet the nation’s demands,
thereby leading to fuel shortages. He clarified that his refinery does
not sell petrol at retail and is not responsible for shortages. Dangote
urged the state-owned Nigerian National Petroleum Corporation (NNPC) and
fuel marketers to stop importing fuel from abroad and instead purchase
from his refinery. The billionaire’s words came after a meeting with
Nigeria’s President Bola Tinubu, oil regulators, and the NNPC, to
discuss policies encouraging crude sales to the refinery in naira. The
move, which remains in place, is aimed at reducing foreign exchange
pressure on the country and securing sufficient crude for the operation
of the 650,000-barrel-per-day refinery.
SOURCE: CNBC AFRICA