Aliko Dangote, Chairman of Dangote Group, called on petroleum marketers, including the Nigerian National Petroleum Company Limited (NNPC), to obtain petrol directly from his newly established refinery to address local fuel demands.
Following a private meeting with President Bola Tinubu at the Aso Rock Villa in Abuja, Dangote announced the refinery’s capability to produce over 30 million liters of fuel daily when operating at full capacity. He emphasized that the facility currently has a reserve of 500 million liters, sufficient to supply the nation for more than 12 days without relying on imports.
“We are fully prepared to meet the demand,” Dangote told reporters, asserting that the refinery’s output could significantly alleviate Nigeria’s fuel shortages. He acknowledged the ongoing concerns about fuel scarcity in various regions, clarifying, “As a producer, my role is not in retail. If I were in retail, I could be held accountable for supply issues.”
Dangote urged retailers to engage with the refinery and collect the fuel they need, stressing the importance of direct procurement to ensure a steady supply. “NNPC and other marketers need to stop importing and start sourcing from us. “We have ample supply available, and as they pick up fuel, we will continue to pump it out,” he stated.
He also highlighted the financial implications of maintaining large reserves, noting, “Keeping a billion liters in storage is costly. If I could convert this into cash, I would be gaining interest rather than incurring daily losses.”
The call for collaboration from marketers aims to eliminate long queues at filling stations and stabilize fuel access across the country.
