Aliko Dangote discloses that the Dangote Refinery was established without any support from the Nigerian government, underscoring the project’s self-sufficiency.
Aliko Dangote, the President of Dangote Group, stated that his refinery, with a capacity of 650,000 barrels per day, was constructed without receiving any incentives from the Nigerian government.
Dangote revealed this information at the current Crude Oil Refinery Owners Association of Nigeria Summit in Lagos.
The richest man in Africa, represented by the Executive Director of Dangote Group, Engineer Mansur Ahmed, stated that it is noteworthy that the Dangote Refinery already produces enough diesel and jet fuel to meet Nigeria’s requirements.
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The $20 billion refinery began operations on January 12, 2024, with an initial refining capacity of 300,000 barrels. By the end of September 2024, its capacity had increased to 400,000 barrels.
On September 15, the refinery started distributing its petrol exclusively to the Nigerian National Petroleum Company Limited.
Dangote stated that although Nigeria is the largest producer of crude oil in Africa, it has relied heavily on imports for decades to satisfy its demand for refined petroleum products.
Following the launch of Dangote Petrol, NNPCL declared a new fuel price range of N950 to N1,100 per liter at its retail outlets nationwide.
In September 2024, Dangote also urged the Nigerian government to fully eliminate fuel subsidies.
