Aliko Dangote, Chairman of the Dangote Group, announced that Nigeria will no longer need to import premium motor spirit (PMS) by next month due to the operational capacity of the Dangote Refinery. According to Channels Television, while speaking at the Africa CEO Forum Annual Summit in Kigali on Friday, Dangote highlighted that the refinery has already commenced supplying diesel and aviation fuel within Nigeria and is poised to meet the fuel needs of West Africa and beyond.
“Right now, Nigeria has no cause to import anything apart from gasoline and by sometime in June, within the next four or five weeks, Nigeria shouldn’t import anything like gasoline; not one drop of a litre,” Dangote declared.
He emphasized the refinery’s capability, stating, “We have enough gasoline to give to at least the entire West Africa, diesel to give to West Africa and Central Africa. We have enough aviation fuel to give to the entire continent and also export some to Brazil and Mexico.”
The refinery’s operations extend beyond fuel, with plans to make Africa self-sufficient in various chemical products. “Today, our polypropylene and our polyethene will meet the entire demand of Africa and we are doing base oil, which is like engine oil, we are doing linear benzyl, which is raw material to produce detergent,” Dangote said. He predicted that within a few years, Africa would no longer need to import fertilizers, as Dangote’s production would meet the continent’s needs.
Dangote reflected on his long-term vision and investment strategy, which has culminated in one of the world’s largest refineries. “We had this dream, just about five years ago and we said we want to move from five billion (dollars) revenue to thirty billion revenue and we made it happen. It is possible and now we have made it happen and now we have finished our refinery,” he noted.
Emphasizing the broader economic impact, Dangote criticized the current model of exporting raw materials and importing finished products. “When you export raw materials and somebody now keeps importing things into your continent and dumping goods, what you are importing is poverty and exporting jobs. So, we have to change that narrative,” he asserted.
The Dangote Refinery, with its capacity to process 650,000 barrels per day and produce a variety of chemical products, is set to transform the regional economy. Dangote concluded by announcing future expansions: “This is the first phase and we are going out to the next phase which will start early next year…..See More
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