Nigeria’s Dangote Refinery has started producing gasoline, marking a significant step in reducing the country’s reliance on imported oil products. With a capacity of 650,000 barrels per day, Africa’s largest refinery aims to stabilize Nigeria’s fuel supply and reduce the country’s foreign exchange demand.
Aliko Dangote, CEO of Dangote Refineries, credited the government’s support for this strategic initiative, which is expected to bring stability to the Naira. “This will give a lot of stability for the Naira because you remove 40% of the demand for the dollars in the market,” Dangote noted.
The refinery, which began operations earlier with the production of naphtha and jet fuel, has now started processing gasoline. According to Devakumar Edwin, a vice president at Dangote Industries, the gasoline is currently being tested and will soon be available for the local market. This development comes at a crucial time, as Nigeria struggles to meet domestic fuel demand.
Edwin mentioned that while the Nigerian National Petroleum Company (NNPC) would purchase gasoline from Dangote, the refinery is also prepared to export the product if necessary. Industry experts highlight the importance of this development in alleviating the country’s fuel shortages.
The commencement of gasoline production at the Dangote Refinery marks a significant achievement, fulfilling a long-held vision to transform Nigeria’s energy landscape and reduce dependence on foreign oil products. As Dangote reflected, “We’ve been able to deliver what many thought was impossible.”
Credit: Reuters (Text Excluding Headline)
