Godsent Ogbebor – Abuja Correspondent
Dangote Promises Steady Petrol Supply for Festive Season
Nigerians have been assured of steady petrol supply and stable pump prices during the Christmas and New Year period as the Dangote Petroleum Refinery expands its output.
The Chairman of Dangote Industries Limited, Aliko Dangote, gave the assurance while announcing that the refinery’s capacity will be raised from 650,000 barrels per day to 1.4 million barrels per day.
Dangote said the company would ensure that the usual fuel scarcity experienced during the ember months does not occur this year.
He noted that despite recent increases in global crude prices, the refinery was committed to keeping petrol available and affordable for Nigerians.
He said the refinery, commissioned in May 2023, has already helped stabilise fuel supply in the country, reduced import pressure, and contributed to strengthening the naira.
According to him, Nigerians still pay one of the lowest pump prices in the region, even with cleaner petrol that meets Euro VI international standards.
The industrialist acknowledged the support of the Federal Government and Lagos State Government, saying their cooperation has encouraged further investment and growth.
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He urged other investors with refinery licences to join in expanding local refining capacity to reduce dependence on imported products.
Dangote explained that the expansion will be completed within three years and financed through internal cash flow, public listing, and new investors.
He disclosed plans to list part of the refinery on the Nigerian Exchange to enable citizens share in its value, adding that the revenue potential could exceed $55 billion yearly when fully operational.
He added that the project would create more jobs, boost petrochemical production, and supply more power as the facility scales up to 1,000 megawatts of electricity.
Over 85 percent of the workforce will continue to be Nigerians with ongoing training and technology transfer programmes.
Dangote described the expansion as a major step towards energy independence for Nigeria and Africa, as well as a demonstration of confidence in the reforms of President Bola Tinubu’s administration.