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

Aliko Dangote, Africa’s richest man and founder of Dangote Group, has announced that his refinery will start selling petrol to Nigerians in August 2024. Speaking to journalists on Sunday, July 14, 2024, Dangote confirmed that the sale will be made directly to marketers, with the hope that this move could lead to a reduction in petrol prices.

The refinery is set to commence full operations within the year, starting with the refining of intermediate products such as polypropylene, naphtha, RCO, gasoline, diesel, and jet fuel. Dangote highlighted that the refinery’s steady-state production phase began 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 the end of the year, and 650,000 bpd by the first quarter of 2025,” he detailed.

The Dangote refinery is expected to significantly impact the Nigerian market and the broader African economy. Earlier reports from Legit.ng indicated that the refinery had set July 10–15, 2024, as the dates for supplying petrol products to the Nigerian market. Dangote confirmed this timeline, stating, “Petrol production is to commence in July with sales from August.”

The commencement of petrol sales from the Dangote refinery marks a significant milestone for Nigeria’s oil and gas sector. The refinery, one of the largest in the world, aims to reduce Nigeria’s dependence on imported refined petroleum products, enhance energy security, and potentially lower fuel prices for consumers.

In addition to producing petrol, the refinery’s capacity to process various intermediate products positions it as a key player in the global petrochemical industry. The production of polypropylene, naphtha, and other chemicals is expected to boost Nigeria’s industrial base and create numerous job opportunities.

Dangote’s ambitious plan to scale up production rapidly underscores his commitment to transforming the energy landscape in Nigeria and Africa. By August 2024, the refinery is expected to process 500,000 bpd, significantly increasing to 650,000 bpd by early 2025. This rapid scale-up is crucial for meeting both domestic and international demand, potentially positioning Nigeria as a net exporter of refined petroleum products.

The launch of petrol sales from the Dangote refinery is highly anticipated and represents a critical step towards achieving self-sufficiency in petroleum products for Nigeria. As the refinery ramps up production, the potential for stabilized petrol prices and enhanced economic growth becomes more tangible, promising significant benefits for the Nigerian populace and the broader economy.