The Chairman of Dangote Group, Aliko Dangote, has called on petroleum marketers, including the Nigerian National Petroleum Company Limited to directly source petrol from his newly operational refinery to help meet the growing domestic demand for fuel.
The PUNCH reported that the appeal came after a closed-door meeting with President Bola Tinubu at the Aso Rock Villa in Abuja, where Dangote underscored the refinery’s readiness to alleviate Nigeria’s reliance on fuel imports.
Dangote assured the press of the refinery’s production capability, confirming that, at full capacity, it could generate more than 30 million liters of fuel per day.
He added that his facility currently maintains a reserve of 500 million liters, which could sustain the nation’s fuel requirements for over 12 days without any external imports.
In addressing concerns around the persistent fuel scarcity witnessed across parts of Nigeria, Dangote emphasized the refinery’s capacity to meet local needs but clarified that he is not involved in the retail segment.
“Well, on the streets, one thing that you have to understand is that we are producers. I have a refinery. I’m not in the business of retail. If I’m in the business of retail then you hold me responsible,” he explained.
His call for action extended to petroleum retailers, urging them to step forward and utilize the available stock.
“But what I’m saying is that the retailers should please come forward and pick; if they don’t, come forward and pick, what do you want me to do? That’s something that I can do,” he remarked.
Dangote pointed out that if NNPC and other marketers sourced fuel from his refinery instead of importing, it could ease supply issues and reduce queues at filling stations.
“So I am expecting either NNPC or the marketers to stop importing; they should come and pick because we have what they need. And you know, as they move, I will be pumping,” he stated.
Explaining the financial burden of maintaining such large reserves, he highlighted the significant costs involved.
“I don’t know whether you understand what it takes to keep a billion litres inside our tank. It’s costing me money every day. If I can collect the naira, I can charge somebody 32% in interest. So right now, that’s what I’m losing,” he said.
To conclude, Dangote reiterated the urgency of clearing the current stock to relieve financial pressure on the refinery and ease the burden on Nigerians facing scarcity.
“And you are talking about 500 million, you know, I mean, we don’t print money. But the issue is that if they come and collect then you will not see any queues in the filling stations,” he assured.
