Dangote Refinery begins production

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Ameenah Hassan

Dangote Refinery Seeks $20 Billion to Buy Crude from Outside Nigeria

Aliko Dangote, the chairman of the Dangote Industries Limited group, has announced the opening of his refinery for production.

The CEO announced this during a conference at Ibeju-lekki today. He started by thanking God, the federal government, and Nigeria for allowing this day to pass after many difficulties.

The refinery has faced numerous challenges and delays in the past, including supply issues with the Nigerian National Petroleum Corporation (NNPC) and international oil companies (IOCs), which were eventually resolved with the assistance of the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) and other key stakeholders.

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Nigeria has achieved petrol production for the first time in 28 years, marking a significant milestone for Nigeria. The 650,000 barrels-per-day refinery is expected to alleviate the country’s reliance on imported fuel, saving billions in foreign exchange.

It has the potential to produce up to 330,000 barrels of petrol daily at full capacity, addressing the nation’s fuel scarcity. The Nigerian National Petroleum Company (NNPC) will be the refinery’s sole buyer, ensuring a steady domestic supply of petrol.

It is expected that this development will bring much-needed relief to Nigerians who have been suffering from shortages in a number of the nation’s towns and cities.

He asserted that Nigeria has been struggling with the production of petroleum over time, and with the start of this production, the tracking of barrels on trucks would be made easier.

During the conference, Dangote emphasized the refinery’s ability to produce petrol of unmatched clarity, showcasing a sample with no impurities. He assured that the high-quality fuel would prevent engine issues that Nigerians have been facing, rivaling any global standard.

“This refinery would change the dynamics, not only in Nigeria but in sub-Saharan Africa; the production will meet up with the demand of the whole of sub-Saharan Africa,” he proudly stated.

Dangote also announced a pivotal shift in Nigeria’s energy landscape, promising that the refinery will meet 100% of the country’s demand for refined products, including gasoline, diesel, kerosene, and jet fuel. This move will enhance Nigeria’s self-reliance. in energy production, further solidifying the refinery’s crucial role in the nation’s economic transformation.

Ameenah Hassan

Ameenah Hassan is a content writer with experience in public relations. She has contributed to Arbiterz since 2021, writing research-based news and features on business. She is currently pursuing a degree in Mass Communication at the University of Lagos.