On Tuesday, Aliko Dangote, the Chairman of Dangote Group, called on petroleum marketers, including the Nigerian National Petroleum Company Limited, to procure petrol directly from his refinery to satisfy local demands.
Dangote has confirmed the refinery’s readiness to supply fuel following private discussions with President Bola Tinubu at the Aso Rock Villa in Abuja.
The refinery has the capability to produce more than 30 million litres of fuel each day at full capacity and currently maintains a reserve of 500 million litres, sufficient to meet the country’s needs for over 12 days without relying on imports.
“We are fully prepared,” Dangote informed State House Correspondents, noting that the refinery’s production capacity has the potential to substantially meet Nigeria’s fuel requirements.
In response to the concerns regarding fuel scarcity in various regions of the country, he stated, “It is important to recognize that we are producers.” I operate a refinery. I do not operate within the retail sector. If I am engaged in the retail sector, then I accept full responsibility.
“What I am suggesting is that the retailers should come forward and make their selections. If they do not, what would you like me to do?” I am capable of accomplishing that task.
“I anticipate that either NNPC or the marketers will cease imports; they should come and collect what we have available.” As they progress, I will be actively contributing.
“I am unsure if you comprehend the requirements involved in maintaining a billion litres within our tank.” It incurs a daily financial expense. If I am able to collect the naira, I can impose an interest rate of 32% on an individual. At this moment, that is what I am forfeiting.
“You are discussing 500 million, and it is important to note that we do not have the capacity to print money.” However, the concern is that if they come to collect, there will be no visible queues at the filling stations.
Further information will be provided soon.
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