Aliko Dangote Confirms Date Refinery Will Begin Sale of Petrol to Nigerians

• Aliko Dangote has confirmed that petrol production has begun at his 650,000-barrel-per-day refinery located in Lagos
• The billionaire has also revealed that sales of petrol to Nigerians will commence, and marketers have shown interest
• There is an expectation that the refinery will help reduce petrol prices from the current rate of over N700

Aliko Dangote, Africa’s richest man and founder of Dangote Group, has confirmed that his refinery will commence the sale of petrol to Nigerians in August 2024.

Dangote gave the update while speaking with Journalists on Sunday, July 14, 2024.

According to Dangote, the sale will be made directly to marketers, and there is hope that this could crash petrol prices.

Dangote Refinery begins production

According to Dangote, the refinery will commence full operations in 2024, beginning with refining intermediate products such as polypropylene, naphtha, RCO, gasoline, diesel, and jet fuel.

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He added that the refinery’s steady-state production phase commenced in March 2024.

"We will ramp up production to 500,000 barrels per day (bpd), with 15 crude cargoes a month by August, 550,000 bpd by end of the year, and 650, 000 bpd by first quarter of 2025."

Earlier, Legit.ng reported that the Dangote refinery set July 10–15, 2024, as the dates for supplying petrol products to the Nigerian market.

He confirmed to Journalists again:

“Petrol production is to commence in July with sales from August."

Dangote refinery challenges

Dangote that the crude supply challenge, which affected the supply of petrol from the refinery, was resolved last week after the federal government intervened.

Dangote to earn $30bn from refinery, other investments

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Dangote speaks on stationing his Billion Dollar refinery in Ogun State

Legit.ng previously reported that Aliko Dangote, Africa’s wealthiest individual, revealed his expectation that the total revenue from his businesses would surpass $30 billion by the close of 2024.

The Nigerian billionaire and founder of the Dangote Group is renowned for his extensive business empire, which includes subsidiaries specialising in a wide range of goods and services across various sectors of Nigeria’s economy.

In a CNN interview, Dangote expressed that this significant growth would position the Dangote Group among the top 120 largest companies globally.

Source: Legit.ng