In a significant development for the Nigerian energy sector, Aliko Dangote, Africa’s richest man, announced on Saturday that the Dangote Refinery has successfully obtained the necessary permits to refine more than 300,000 barrels of Nigerian crude per day.
This news came during an interview at the Saudi-Nigeria business roundtable in Riyadh, underlining the refinery’s commitment to using domestically sourced crude and bolstering Nigeria’s energy independence.
Dangote expressed his optimism for the refinery’s imminent production of petrol, stating, “We don’t want to start our refinery with foreign goods; we want to start with Nigerian crude. We’re more than ready, and you will see our gasoline products soon.”
The billionaire’s words reflect a strategic focus on reducing Nigeria’s reliance on imported petroleum products.
Initially scheduled to commence production by the end of July, the 650,000 barrel-a-day Dangote Refinery faced delays, but Dangote reassured that the refinery will start producing “very very soon.”
The primary goal of the refinery will be to supply petrol to Nigeria before considering export to other West African nations, affirming its commitment to boosting domestic energy security.
Dangote also outlined the refinery’s production capacity, indicating that it is expected to yield 27 million liters of diesel, 11 million liters of kerosene, and 9 million liters of jet fuel.
Moreover, the facility will receive crude from other Nigerian producers and the state oil company, further supporting the nation’s domestic oil industry.
Furthermore, the Nigerian National Petroleum Company (NNPC) Limited has pledged to allocate six million barrels of crude oil to the Dangote Refinery in December 2023, a move expected to strengthen the refinery’s raw material supply chain.
In a separate development, the NNPC announced the introduction of the Nembe crude oil grade to the market.
This newly introduced crude stream will be managed and marketed through a joint venture between the NNPC and Aiteo Eastern Exploration and Production Company.
The Dangote Refinery’s progress marks a crucial step toward reducing Nigeria’s dependence on imported refined petroleum products and enhancing its energy self-sufficiency, which is vital for the nation’s economic development and stability.
The impending production launch and allocation of crude oil from NNPC signify a promising future for Nigeria’s energy sector.
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