June 22, 2024
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OIL & GAS

Nigeria Will Stop Oil Imports by June – Dangote

Alhaji Aliko Dangote, the CEO of Alhaji Aliko Dangote, said Nigeria is set to cease importing oil by June as part of its strategy to achieve self-reliance in the energy sector.

Dangote announced this at a summit of African business leaders on Friday in Kigali, Rwanda’s capital.

He emphasized that the refinery will supply refined oil not only to Nigeria but also to other West African countries. “In four to five weeks, Nigeria will no longer need to import any fuel. By June, we should not import a single drop of oil,” he stated.

He assured that the refinery has sufficient capacity to meet the fuel and diesel demands of West and Central Africa. “We have enough jet fuel to supply the entire African continent and even export to Brazil and Mexico,” Dangote added.

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Dangote highlighted the importance of self-sufficiency in oil production for Africa. “Only Algeria and Libya do not import oil. The rest of the continent relies on imports. We need to change this by refining our crude oil domestically to supply our needs and create jobs.”

In addition to fuel, the refinery will also provide ample diesel for West and Central Africa and jet fuel for the entire continent. The refinery is expected to supply fertilizer to the African continent, eliminating the need for imports within three to four years.

The Dangote Oil Refinery, which will begin operations in the next few months, has the capacity to refine 650,000 barrels of crude oil per day. Once fully operational, it will be the largest refinery in Africa and Europe.

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