The President of Dangote Group, Aliko Dangote, has said his 650,000 barrels per day capacity refinery was built without a single incentive from the Nigeria government.
Dangote disclosed this at the ongoing Crude Oil Refinery Owners Association of Nigeria Summit in Lagos.
The Africa richestman, who was represented by the Executive Director, Dangote Group, Engr Mansur Ahmed, said it is worth noting that the Dangote Refinery already produces sufficient diesel and jet fuel to meet Nigeria’s demand.
The $20 billion refinery came on stream on January 12, 2024, with a refining capacity of 300,000 barrels but increased to 400,000 barrels by the end of September 2024.
On September 15, the refinery began distribution of its petrol with the Nigerian National Petroleum Company Limited as the sole off-taker.
Dangote said despite being the largest producer of crude oil in Africa, Nigeria has for decades largely depended on imports to meet its refined petroleum product needs.
With the lifting of Dangote Petrol, NNPCL announced a fresh fuel price between N950 and N1,100 per liter across its retail outlets nationwide.
Dangote in September 2024 also advocated for the Nigerian government to remove fuel subsidies completely.