Utweets
Aliko Dangote, President of Dangote Group, urged NNPC and fuel marketers to stop imports, asserting his refinery can meet Nigeria’s daily fuel needs. With 500 million liters in storage, Dangote claims his facility can eliminate fuel queues and stabilize prices by supplying 30 million liters daily. ...READ THE FULL STORY FROM SOURCE ↔️
In a recent briefing with State House reporters in Abuja, Aliko Dangote, the President and Chief Executive of Dangote Group, addressed the persistent issue of fuel queues that have plagued Nigeria. He called upon the Nigeria National Petroleum Company Limited (NNPCL) and local marketers to cease fuel imports, asserting that his refinery could effectively meet the country’s fuel needs.
Dangote emphasized that the daily fuel consumption in Nigeria is estimated at 30 to 32 million liters, a volume his refinery is poised to produce. He stated, “We are ready to start producing by next week. Currently, we have 500 million liters stored, which would sustain the country for over 12 days without additional imports.”
He also expressed his commitment to ensuring a steady supply, stating, “I’m putting my name on the line that we will be able to supply 30 million liters daily.” Dangote highlighted the financial burden of storing fuel, explaining that keeping such a vast quantity incurs significant costs, including interest charges of up to 32 percent. “If they come and collect from us, the queues at filling stations will disappear,” he asserted.
This announcement comes shortly after the federal government initiated a policy allowing crude oil transactions with Dangote Refinery to be conducted in naira instead of dollars. ..ALSO READ FULL FROM SOURCE ↔️
