Dangote Urges Marketers’ Support to Eliminate Fuel Queues Nationwide (VIDEO)

To address Nigeria’s fuel scarcity, Dangote emphasizes that fuel queues can be a thing of the past if marketers source fuel from the Dangote Refinery, enhancing supply stability.

Aliko Dangote, the President and CEO of Dangote Group, offered further insights on Tuesday into resolving the persistent problem of fuel queues in the country.

Dangote, speaking to State House reporters in Abuja, called on the Nigeria National Petroleum Company Limited (NNPCL) and marketers nationwide to cease importing fuel.

He conveyed confidence that his refinery could resolve the ongoing fuel shortages throughout the country.

Dangote stated, “Our estimated daily consumption is approximately 30-32 million liters. We can begin producing this amount by next week without any difficulty. Currently, we have 500 million liters stored in our tanks. Even if production or imports cease entirely right now, that supply would last the country for more than 12 days.”

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“We are fully prepared and confident in our ability to supply the market with 30 million per day. I’m personally vouching for this commitment as we continue to scale up production.”

“I anticipate that the NNPCL and marketers will cease importing and instead collect what they need from us. Storing half a billion liters in our tanks is costly, with daily losses amounting to an equivalent of 32% interest if I were receiving payments. Once they start collecting their supplies, there won’t be any queues at filling stations.”

This occurred just four weeks after the federal government started implementing a policy to sell crude oil to the Dangote Refinery in naira instead of United States dollars.

The federal government stated that this action aims to stabilize domestic fuel prices and bolster Nigeria’s currency by reducing reliance on dollars in crude oil transactions.