Dangote Urges Fuel Marketers to Use His Refinery, Promises End to Fuel Queues Nationwide

 

Aliko Dangote, Africa's wealthiest businessman, has stated that fuel shortages across Nigeria could be resolved if marketers begin sourcing their supply from his refinery. Speaking to State House Correspondents on October 29, Dangote urged the Nigerian National Petroleum Company Limited (NNPCL) and fuel marketers nationwide to end fuel imports, emphasizing that his refinery is fully capable of meeting Nigeria's fuel demand.

Flanked by Finance Minister Wale Edun and Presidential Adviser Bayo Onanuga, Dangote explained that his refinery, once at full capacity, could supply the country's entire daily fuel needs, which he estimates at approximately 30-32 million liters. “We can start producing that amount by next week,” he assured, adding that they currently have 500 million liters stored, enough to meet national demand for over 12 days without imports.

Dangote expressed readiness to meet Nigeria's fuel needs, even committing to supplying 30 million liters per day as production ramps up. He highlighted the financial strain of holding such large stockpiles, noting that the 500 million liters currently in storage accrue significant interest costs. “Every day, if I were to charge, I could be getting 32 percent in interest. It’s a loss for me to keep it. If NNPCL and the marketers come to collect, you won’t see queues at fuel stations,” he asserted.

Dangote’s statement reinforces his commitment to stabilizing Nigeria's fuel supply and reducing reliance on costly imports, which he believes will help eliminate the nation’s recurrent fuel shortages.