In a recent update, Aliko Dangote has revealed that his refinery has secured a license to refine more than 300,000 barrels of Nigerian crude per day and is set to begin processing gasoline soon.
The refinery, which was initially expected to start production in August, has faced delays, but Dangote remains optimistic that it will commence operations “very very soon.”
Highlighting the refinery’s first priority, Dangote emphasized the commitment to supplying gasoline to Nigeria before exploring export opportunities, including the West African region.
In an interview during the Saudi-Nigeria business roundtable in Riyadh, Dangote stated, “We don’t want to start our refinery with foreign goods; we want to start with the Nigerian crude.”
Addressing the readiness of the refinery, he expressed confidence that the public would soon witness the production of gasoline products.
The Dangote Petroleum Refinery, with a capacity of 650,000 barrels per day, is expected to produce diesel, kerosene, and jet fuel.
Dangote did not disclose the entities receiving the crude oil from the refinery. However, it was previously reported that the Nigerian National Petroleum Company Limited ,NNPCL, had entered into a $3 billion crude oil-for-loan deal with the African Export-Import Bank.
As Nigeria strives to boost its oil output, the country increased production by 60,000 barrels per day last month, reaching 1.49 million barrels per day—the highest in almost two years.
The introduction of a new crude grade called Nembe, managed by a joint venture between the state-owned Nigerian National Petroleum Company and Aiteo Eastern E&P Co. Ltd., aims to further enhance Nigeria’s oil production.
Despite challenges such as crude theft and pipeline attacks in the Niger Delta impacting Nigeria’s ability to meet quotas, Dangote’s refinery project remains a significant development for the country’s energy sector.
The refinery’s focus on processing Nigerian crude underscores its contribution to the nation’s energy self-sufficiency and economic growth.
Crediblenews.ng
