Dangote Refinery’s First Fuel Products Hit Market By End of July

The Dangote Group has committed to delivering the first fuel products from the Dangote Refinery before the end of July, beginning of August 2023.

Aliko Dangote, group’s chairman revealed this during the ongoing commissioning of the 650,000 barrels per day Dangote Refinery.

He thanked President Muhammadu Buhari for his assistance during the difficult process that resulted in the establishment of the Dangote refinery.

The Nigerian National Petroleum Company (NNPC) Limited, according to Dangote, has pledged its support for the refinery operations. In addition, the Dangote refinery intends to export 40 percent of its output.

During the refinery’s commissioning, Dangote said that President Buhari has been a great support system and that he appreciates the President’s efforts in ensuring the refinery project’s realization.

He said: “At times when I felt like giving up, your confidence and quiet words of assurance have been the difference. President Buhari, I want to thank you from the bottom of my heart for this encouragement and for making sure that this project is possible.

“Since the beginning of this democratic dispensation, the Lagos state government has been exceptionally remarkable in its commitment and support for the private sector.”

In his industry address, Mele Kyari, group chief executive officer of the NNPC Limited, said the refinery commissioning is a defining moment for the Nigerian energy industry, noting that energy is not just a business but a vital component of national security.

He highlighted the fact that the refinery has the capacity to provide refined petroleum products and petrochemicals for the country and the region.

According to him, the benefits will be real and tangible for consumers as well as the economy and the country more generally. This remarkable achievement is not taking place in a vacuum, this extraordinary facility that we see here today is not standing alone, but with the enabling environment that our government continues to provide, and we are most grateful for this.

He said: “The reforms that we have undertaken in the Nigerian petroleum industry under the leadership of President Muhammadu Buhari were built around a clear set of principles that anticipate the tremendous changes that will take place in the international energy market in the decades to come.

“NNPCL will continue to support investment in domestic refining to satisfy the growing demand for refined petroleum products in both local and regional markets as against simply exporting crude to diminishing markets overseas.”

“The Dangote Refinery with the new deal that we have been building, supported by the enabling Petroleum Industry Act, will surely provide domestic security of supply in our country. The lingering challenges of petroleum subsidies are clearly getting out of the capacity of the state to bear and the differentials that domestic refining will provide are insignificant and cannot compensate for the subsidies.”