The Chairman and Group Chief Executive, Dangote Industries, Aliko Dangote says his 650,000 barrels per day capacity refinery was built without a single incentive.
Aliko who was speaking at the maiden edition of Crude Oil Refiners Association of Nigeria ( COREN) Summit in Lagos said it’s worth noting that the Dangote Refinery already produces sufficient diesel and jet fuel to meet Nigeria’s demand.
The $20 billion refinery came on stream on January 12, 2024 with refining capacity of 300,000 barrels but increased to 400,000 barrels by the end of September, 2024.
“We recently started the production of PMS and will soon ramp-up to meet Nigeria demand.
“Our refined products have been exported to diverse markets, including Europe, Brazil, UK, USA, Singapore, and South Korea, among others,” he said
Represented by the Executive Director, Dangote Group, Engr Mansur Ahmed, Dangote said despite being the largest producer of crude oil in Africa, Nigeria has for decades largely depended on imports to meet its refined petroleum product needs.
He said : “Thankfully, that will no longer be the case as Nigeria is now poised to transition from a “net importer” to a “net exporter” of refined petroleum products, and firmly establish itself as an emerging global player in downstream trade flows.
“This impending transformation is indicative of how far we have come as an industry and as a nation.
“We owe a debt of gratitude to our President, His Excellency, Bola Ahmed Tinubu, GCFR for his unwavering support during this journey.”
(Energy Times/vitalnewsngr.com)
