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Nigerian Tycoon's Refinery Receives Permit to Process Country's Oil: Media

© AP Photo / Sunday AlambaOil installations at the Dangote refinery during the opening ceremony in Lagos, Nigeria, Monday, May 22, 2023.
Oil installations at the Dangote refinery during the opening ceremony in Lagos, Nigeria, Monday, May 22, 2023.  - Sputnik Africa, 1920, 12.11.2023
The capital of Saudi Arabia, Riyadh is hosting the Saudi-Nigerian Investment Roundtable, which aims to facilitate business cooperation between the two countries. The West African state is represented at the event by the country's President Bola Tinubu, a number of ministers and businessmen, including Chairman of Dangote Industries, Aliko Dangote.
Nigerian billionaire Aliko Dangote's refinery secured a license to refine more than 300,000 barrels of the country's crude per day, the media reported, citing the tycoon, who also said that the facility will begin to process gasoline "soon."

"We don’t want to start our refinery with foreign goods, we want to start with the Nigerian crude. We’re more than ready, and you will see our gasoline products soon," Dangote said in an interview Saturday in Riyadh on the sidelines of the Saudi-Nigeria business roundtable.

Although the refinery did not launch production in August as it had been supposed to, the billionaire assured that the facility will start working "very, very soon," the outlet said. According to him, before exporting gasoline abroad, the refinery aims to provide Nigeria with it, the report noted.
Dangote Refinery - Sputnik Africa, 1920, 23.05.2023
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Moreover, Dangote highlighted that Nigeria's state oil company as well as other producers in the country will supply crude to the 650,000 barrel-a-day refinery that is projected to produce at least 27 million liters of diesel, about 11 million liters of kerosene and around 9 million liters of jet fuel, the media revealed.
On November 5, media reported that the facility would be provided with up to six cargoes of crude oil for test runs in December by Nigeria's NNPC, the country's sole licensed oil company.
Speaking about the significance of the Dangote's facility for the country and Africa, in May, Executive Chairman of the African Energy Chamber, NJ Ayuk told Sputnik Africa that it "ushers in a new era," not only for Nigeria, making it a self-sufficient and sustainable nation, but for the entire African continent to overcome its energy problems. He also called the refinery a "game-changer" for the West African state.
Moreover, on Wednesday, Nigeria introduced a new grade of oil to the international market, called the Nembe crude oil grade, which is said to encourage increase in commodity exports, the NNPC noted.