Business

See When Dangote Refinery will be set to Start Petrol Production

Published by Tope Fakinlede on July 15th, 2024.

See When Dangote Refinery will be set to Start Petrol Production

Alhaji Aliko Dangote, President of Dangote Refinery, announced that the refinery is poised to begin petrol production in August 2024. This follows the resolution of previous crude oil supply challenges with assistance from the Nigerian National Petroleum Company Limited (NNPCL) and the federal government.

During a press briefing in Lagos, Dangote shared that the crude supply issues, which had impeded petrol production, were resolved last week after federal government intervention. The announcement was made during a guided tour of the refinery located in the Lekki Free Trade Zone, Lagos.

In June, Dangote Industries Limited (DIL) expressed concerns over the actions of international oil companies (IOCs) allegedly obstructing the refinery’s efforts to secure crude. Devakumar Edwin, Vice President of Oil and Gas at DIL, indicated that despite the Nigerian Upstream Petroleum Regulatory Commission’s (NUPRC) efforts to allocate crude, IOCs have been creating hurdles. Edwin noted that these companies either demanded exorbitant premiums or claimed crude was unavailable, leading to increased production costs as the refinery had to import crude from distant countries such as the United States.

Additionally, Dangote disclosed that the refinery’s fertiliser unit is set to resume production in two weeks, which will significantly benefit farmers by improving access to fertiliser. Addressing over 70 journalists during the tour, Dangote emphasized the high demand for fertiliser both within Nigeria and across Africa, affirming the group’s commitment to meeting this demand.