Africa’s wealthiest individual, Aliko Dangote, announced that his refinery has obtained a license to process over 300,000 barrels of Nigerian crude daily. Dangote emphasized the commitment to kickstart refinery operations with Nigerian crude, anticipating the production of gasoline in the near future.
In an interview during the Saudi-Nigeria business roundtable in Riyadh, Dangote expressed readiness, stating, “We’re more than ready, and you will see our gasoline products soon.” While the refinery initially aimed for production in August, Dangote assured that operations would commence “very very soon.”
Read Also: Bloomberg Ranks Dangote Richest Man in Africa, Elon Musk Richest in the World
The primary focus of the refinery is to supply gasoline within Nigeria before expanding exports to the West African region. Dangote Petroleum Refinery has recently initiated crude oil imports, expecting its first cargo in approximately two weeks, according to Devakumar Edwin, Executive Director of Dangote Group.
While the Nigerian National Petroleum Company Limited manages crude oil trading, the NNPCL had committed crude to other entities, not disclosed by Dangote. In August, the NNPCL announced a $3 billion crude oil-for-loan deal with the African Export-Import Bank.
Read Also: NCC licenses Elon Musk’s Starlink to provide internet service in Nigeria
The refinery, with a capacity of 650,000 barrels per day, is poised to produce significant quantities of diesel, kerosene, and jet fuel. Dangote estimated the facility to receive crude from various Nigerian producers and the state oil company.
Nigeria has observed a surge in oil output, reaching 1.49 million barrels per day, the highest in nearly two years. The introduction of a new crude grade called Nembe, managed through a joint venture between NNPC and Aiteo Eastern E&P Co. Ltd., aims to enhance the nation’s oil output despite challenges like crude theft and pipeline attacks in the Niger Delta affecting production capabilities.
Read Also: NDPC Affirms Nigerias Ability to Regulate Artificial Intelligence
SOURCE: PunchNG
Below is how we can help you promote your event, organization and products/services . This is the best you can get from this global platform of over decades experience.
PACKAGE:
First Leg: Full page Promotional package showcasing your Invitation Card, Banner/Flex, 3 different Photographs and brief of the coming event. Also your picture/Name will be the headline News in digivation blog(Pre-Event)
Second Leg: Full Page Promotional package of the event showcasing 5 different photographs plus short audio/visual clip of the event. Also org. picture/Name will be the headline news our blog(Post-Event).
Rate: N150,000 Only For Both Pre and Post Events. (Rate is only Applicable during the Promotional Period)
For further inquiries, contact the undersigned:
Hilary Damissah (Editor)
Mojisola Alabi ( business Development)
Email: digivationtv@gmail.com
Chief Imo Ukwa(Advert Consultant) 08063779938
