In a recent development, business mogul Aliko Dangote has announced that the crude supply issues faced by the Dangote Refinery have been successfully resolved through the intervention of the Nigerian National Petroleum Company Limited (NNPCL) and the Federal Government. This news comes as a relief to many, as the refinery is now fully prepared to begin rolling out its petrol by August 2024.
During a guided tour of the impressive facility located at the Lekki Free Trade Zone in Lagos on July 14, 2024, Dangote expressed his gratitude for the resolution of the crude supply challenge that had been impacting the refinery’s operations. He specifically highlighted the crucial roles played by the NNPCL and the Federal Government in resolving the issue, which had persisted for some time.
It is important to note that the Dangote Refinery had previously alleged sabotage by international oil companies (IOCs) in their efforts to purchase crude for the refinery. Devakumar Edwin, the Vice President of Oil and Gas at Dangote Industries Limited (DIL), had raised concerns over the deliberate attempts by IOCs to frustrate their crude purchasing efforts. Edwin had stated that the IOCs were either demanding exorbitant premiums or claiming that crude was unavailable, resulting in increased costs and the need to import crude from countries as far as the United States.
However, with the recent intervention of the NNPCL and the Federal Government, the challenges faced by the Dangote Refinery have been overcome. This positive development paves the way for the refinery to commence its operations on schedule in August 2024, marking a significant milestone in Nigeria’s quest for self-sufficiency in the production of petroleum products.
The Dangote Refinery, with its state-of-the-art facilities and advanced technology, is set to contribute immensely to Nigeria’s economy by reducing the country’s reliance on imported petroleum products and creating job opportunities for Nigerians. It is expected to have a refining capacity of 650,000 barrels per day, making it one of the largest refineries in the world.
As Nigerians eagerly anticipate the commencement of operations at the Dangote Refinery, the successful resolution of the crude supply issues serves as a testament to the determination and collaborative efforts of the NNPCL, the Federal Government, and the Dangote Group. It is a significant step towards realizing Nigeria’s vision of becoming a self-sufficient and thriving petroleum industry hub.
