Aliko Dangote, Chairman of the Dangote Group, has urged petroleum marketers, including the Nigerian National Petroleum Company Limited (NNPC), to source petrol directly from his refinery. Following a meeting with President Bola Tinubu at the Aso Rock Villa in Abuja, Dangote assured that his facility is more than ready to meet the nation’s fuel demands.
During the closed-door discussions, Dangote highlighted the refinery’s current production capacity, which can generate over 30 million litres of petrol daily. Additionally, he noted a substantial reserve of 500 million litres on hand, capable of sustaining the country’s fuel supply for more than 12 days without relying on imports.
Addressing ongoing fuel shortages across various regions, Dangote clarified that, as a producer, his role does not extend to retail distribution. “I am a producer, not a retailer,” he explained. “If I were in retail, you could hold me responsible for any shortage, but my job is to make the fuel available. It’s up to the marketers to collect it from us.”
He further appealed to NNPC and other marketers to prioritize local sourcing over imports, suggesting that if they sourced directly from his refinery, there would be enough fuel to prevent queues at filling stations nationwide. “We have the supply they need,” Dangote stated. “As they distribute, I’ll keep pumping.”
Highlighting the cost implications of maintaining large reserves, he mentioned that holding 500 million litres in storage incurs significant financial pressure. “Every day we keep these reserves, it costs us,” he said, adding that his goal is to maintain a steady local supply that benefits both the economy and consumers.
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