By Ayomide Otitoju
Aliko Dangote, President and CEO of Dangote Group, has called on the Nigerian National Petroleum Company Limited (NNPCL) and fuel marketers to end fuel importation, stating that his refinery is poised to meet the country’s fuel demands and eliminate persistent fuel queues.
Addressing State House reporters in Abuja on Tuesday, Dangote expressed confidence that his refinery can supply Nigeria’s estimated daily fuel consumption of 30-32 million liters, beginning next week. He noted that the refinery currently holds 500 million liters in reserve, which could meet the country’s needs for over 12 days without additional production or imports.
“We’re fully prepared to deliver 30 million liters daily to the market. We’re ramping up, and my commitment is on the line,” Dangote said. “NNPCL and marketers should halt imports and collect from our supply. Keeping half a billion liters in our tanks incurs significant costs, with losses of 32% in interest daily.”
The appeal follows a recent federal policy shift allowing crude oil sales to Dangote Refinery in naira, aimed at stabilizing domestic fuel prices and strengthening the naira by reducing dollar demand in crude transactions. The government believes this approach will boost the currency and address fuel scarcity nationwide.
