KEY POINTS
- Dangote urges retailers to lift locally available fuel.
- The refinery holds 500 million liters ready for distribution.
- Enough supply exists to meet daily national fuel needs.
Aliko Dangote, president of Dangote Group, said Tuesday his refinery has the capacity to fully meet Nigeria’s petrol needs, noting that 500 million litres of fuel remain untapped by retailers. He made the remarks while addressing State House journalists after attending a meeting of the Implementation Committee of Sale of Crude and Refined Petroleum Products with President Bola Tinubu.
Dangote says refinery can meet Nigeria’s fuel demand
According to BusinessDay, Dangote questioned why fuel shortages persist despite ample supply. “We have enough crude to produce over 30 million litres daily. At full capacity, we can supply all of Nigeria’s consumption needs,” he said. “Currently, we have 500 million litres in our tanks, enough to last the country over 12 days without additional imports or production. We are fully prepared.”
Assuring Tinubu of the refinery’s reliability, Dangote emphasized his commitment: “I’ve given my word to the president that we can meet the minimum daily demand of 30 million litres, and we’re scaling up production,” he stated.
Addressing the ongoing shortages and long queues, Dangote explained that marketers were not collecting fuel from his refinery. “We’re producers, not retailers. It’s up to the retailers to come and pick up the fuel,” he said. “If they don’t come, there’s little we can do.”
High storage costs stress need for quick fuel distribution
He clarified that while he doesn’t expect the Nigerian National Petroleum Corporation (NNPC) or marketers to halt imports, they should consider the local supply. “We’re holding 500 million litres. It’s costly to store, and I’m losing potential revenue. We’re ready to supply, but the retailers must come forward.”
Dangote also pointed out that his refinery is not equipped for retail distribution or direct deliveries to filling stations. “We have a facility where they can load. If they can manage import logistics, they can pick up local supply,” he said.
