Dangote Refinery Resolves Crude Supply Issues, To Roll Out Petrol In August

President of the Dangote Refinery, Aliko Dangote, has disclosed that the refinery is set to roll out its petrol in August 2024.

Naija News recalls that Dangote Industries Limited (DIL) recently raised an alarm over attempts by international oil companies (IOCs) to frustrate efforts at purchasing crude for the refinery.

The Vice President of Oil and Gas at DIL, Devakumar Edwin, “While the Nigerian Upstream Petroleum Regulatory Commission (NUPRC)are trying their best to allocate the crude for us, the IOCs are deliberately and willfully frustrating our efforts to buy the local crude.

“It seems that the objective is to ensure that our Petroleum Refinery fails. It is either they are deliberately asking for ridiculous/humongous premium or, they simply state that crude is not available.

“At some point, we paid $6 over and above the market price. This has forced us to reduce our output as well as import crude from countries as far as the US, increasing our cost of production.”

However, Dangote, in an interview with journalists on Sunday during a guided tour of the refinery, which is located at the Lekki Free Trade Zone in Lagos, said the refinery had resolved its crude oil supply issues through the help of the Nigeria National Petroleum Company Limited (NNPCL) and the federal government.

Dangote noted that the crude supply challenge, which affected the supply of petrol from the refinery, was resolved last week after the federal government intervened.

Beyond resolving the crude supply issues and announcing plans to roll out petrol in August, Dangote also told journalists that the refinery’s fertiliser unit would resume production in two weeks, giving farmers more access to fertiliser for their farm products.

Dangote added that there was a massive request for fertiliser from Nigerians and the rest of Africa, so his group had no choice but to respond positively.