The President of the Dangote Group, Alhaji Aliko Dangote, has revealed that the Dangote Petroleum Refinery currently has over 500 million litres of petrol in its reservoir.
He also said the refinery now produces enough fuel for local consumption and export. Dangote spoke during a tour of the $20bn Lekki-based facility with the Zambia Minister for Energy, Makozo Chikote on Saturday.
The Zambian official visited the Dangote refinery in Lekki, Lagos State, seeking collaboration with the founder to help solve the country’s energy security issue.
In his address during the tour, Dangote said the refinery currently has N600bn worth of stocks in its tank farm. He said the plant will reach its 650,000 barrels per day full production capacity next month, adding that Nigeria cannot consume up to 50 per cent of its refined products.
“We can satisfy more than the local needs of Nigeria. As we speak, we have more than half a billion litres (of petrol). We have more than N600bn worth of stocks here today in the refinery. We have more than enough. The refinery is producing enough refined products, like gasoline, diesel, and kerosene, to meet 100 per cent of Nigeria’s requirements,” he stated.
“In terms of quality, there is actually no refinery in Africa, even in Europe that can produce our type of quality. We want to be flexible, you know the laws keep changing.”
Dangote maintained that the local fuel consumption in Nigeria is 40 per cent of the refinery’s total production, stating that the remaining 60 per cent is for export to other countries, especially Africa.
The Vice President of the Dangote Group, Davakumar Edwin, stated that the refinery has a strategic location advantage because it is close to the sea. He also reiterated that the refinery can meet all local requirements.
Analysing the refinery’s production data during a presentation, he stressed that the facility can produce 104 million litres of different petroleum products per day.
“57 million litres of petrol every day, 20 million litres of jet fuel, 37 million litres of diesel is our daily production. The local consumption is just 46 million litres. The rest, 58 million litres, will be exported on a daily basis,” Edwin explained.
