Nigeria to Stop Fuel Imports by June – Dangote

In a significant announcement at the Africa CEO Forum Annual Summit, Aliko Dangote, Chairman of the Dangote Group, declared that Nigeria will no longer need to import premium motor spirit (PMS) by June. The Dangote Refinery, which has already commenced the supply of diesel and aviation fuel within Nigeria, is set to meet the diesel and petrol demands of West Africa and the aviation fuel needs of the entire African continent.

Dangote, Africa’s wealthiest individual, emphasized that the refinery’s operational capacity will soon eliminate Nigeria’s dependency on imported gasoline. “Within the next four or five weeks, Nigeria shouldn’t import anything like gasoline; not one drop of a litre,” he asserted.

The refinery’s extensive capabilities also extend beyond Nigeria, with Dangote highlighting plans to supply diesel and gasoline across West and Central Africa. Additionally, the facility will cater to the aviation fuel requirements of the continent and export to markets such as Brazil and Mexico.

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“We have enough gasoline to serve at least the entire West Africa, diesel for West and Central Africa, and aviation fuel for the whole continent,” Dangote stated. The refinery will also produce essential raw materials such as polypropylene, polyethylene, and base oils, significantly reducing Africa’s import dependency.

Looking ahead, Dangote outlined a vision for making Africa self-sufficient in fertilizer production within the next four years. He pointed out that Africa’s current reliance on imported raw materials for detergents will soon be a thing of the past, thanks to the refinery’s production capabilities.

Reflecting on the journey, Dangote shared, “We had a dream to transform from five billion dollars in revenue to thirty billion, and we made it happen. Now, we have completed one of the world’s largest refineries.”

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He emphasized the importance of Africa moving away from exporting raw materials and instead focusing on producing finished goods to create jobs and foster economic growth. “Exporting raw materials and importing finished goods means exporting jobs and importing poverty,” he remarked.

The Dangote Refinery, with a capacity of 650,000 barrels per day and 1 million tonnes of polypropylene, aims to leverage Africa’s crude oil production to supply refined products across the continent, furthering economic integration and self-reliance.

Source: Channels TV.

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