The Chairman of the Dangote Group, Aliko Dangote, called on petroleum marketers, including the Nigerian National Petroleum Company Limited (NNPC), On Tuesday, to prioritize sourcing petrol directly from his refinery to meet Nigeria’s fuel needs.
Following a private meeting with President Bola Tinubu at the Aso Rock Villa in Abuja, Dangote assured that his refinery is fully prepared to supply fuel.
He confirmed that the facility, operating at full capacity, can produce over 30 million litres of fuel daily and currently holds 500 million litres in reserve, sufficient to meet the nation’s demand for over 12 days without imports.
“We’re more than ready,” Dangote told State House correspondents, emphasizing that the refinery’s output has the potential to address Nigeria’s fuel needs significantly.
In response to concerns about ongoing fuel scarcity in parts of the country, he clarified, “On the streets, people need to understand that we are producers.
I have a refinery; I’m not in the retail business.
If I were, then you could hold me accountable.”
Dangote urged marketers to take advantage of the local supply, stating, “I expect either NNPC or the marketers to stop importing.
They should come and collect because we have what they need.
As they move, I will keep pumping.”
He highlighted the economic pressure of holding substantial reserves, explaining, “Keeping a billion litres in our tanks is costly.
If I could use the capital, I could earn 32% interest, which I’m currently losing.
With 500 million litres on hand, we don’t print money but if they come and collect, you won’t see queues at filling stations.”
More details to follow.
