Alhaji Aliko Dangote, the President and Chief Executive of Dangote Industries Limited, has called on the Nigeria National Petroleum Company Limited (NNPCL) and fuel marketers to cease the importation of petroleum products. Dangote made this statement on Tuesday after a meeting at the State House in Abuja with President Bola Tinubu and the committee overseeing the sales of crude oil and refined products in local currency.
The meeting was attended by key figures, including the Group Chief Executive Officer of NNPCL, Mr. Mele Kyari, Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun, and the Governor of the Central Bank of Nigeria, Mr. Yemi Cardoso, among others.
Dangote expressed confidence that his refinery could address the persistent issue of fuel scarcity in Nigeria. He stated, “I estimate that our daily consumption is about 30-32 million litres, which we can start producing by next week. Currently, we have 500 million litres in our tanks, enough to sustain the country for more than 12 days even without any production or imports.”
The business mogul emphasized the need for NNPCL and marketers to rely on his refinery for their fuel supply, stating, “I am putting my name on the line that we will be able to supply the market 30 million litres per day. We are ramping up production and are more than ready.”
Dangote also highlighted the financial burden of maintaining large fuel reserves, indicating that the idle stock is costing him significantly in interest. He urged the stakeholders to take advantage of the available supply to eliminate fuel queues at filling stations, asserting that timely collection of products from his refinery would stabilize the market.
This call to action reflects Dangote’s commitment to alleviating the ongoing fuel scarcity issues and enhancing Nigeria’s self-sufficiency in fuel production.
