https://en.sputniknews.africa/20240903/dangote-refinery-starts-production-promises-relief-for-nigerias-fuel-crisis-1068134923.html
Dangote Refinery Starts Production, Promises Relief for Nigeria's Fuel Crisis
Dangote Refinery Starts Production, Promises Relief for Nigeria's Fuel Crisis
Sputnik Africa
For years, Nigeria has been exchanging billions of dollars worth of crude oil for heavily subsidized petrol, putting significant strain on its foreign exchange... 03.09.2024, Sputnik Africa
2024-09-03T19:02+0200
2024-09-03T19:02+0200
2024-09-04T11:27+0200
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Africa's largest refinery, the Dangote refinery in Nigeria, has finally begun producing petrol, offering a glimmer of hope for the oil-rich nation grappling with chronic fuel shortages.Billionaire Aliko Dangote, the refinery's owner, announced the start of production on Tuesday, stating that gasoline could hit the market within the next 48 hours.Dangote noted that the new product’s pricing is still being finalized by the government and the Nigerian National Petroleum Corporation (NNPC).The refinery, with a capacity of 650,000 barrels per day, commenced diesel and aviation fuel production in January. However, oil-rich Nigeria has relied heavily on costly gasoline imports due to a lack of domestic refining capacity.
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Dangote Refinery Starts Production, Promises Relief for Nigeria's Fuel Crisis
19:02 03.09.2024 (Updated: 11:27 04.09.2024) Muhammad Nooh Osman
Writer/Editor
For years, Nigeria has been exchanging billions of dollars worth of crude oil for heavily subsidized petrol, putting significant strain on its foreign exchange reserves. This situation has been exacerbated by declining oil revenue and foreign currency shortages.
Africa's largest refinery, the
Dangote refinery in Nigeria, has finally begun producing petrol, offering a glimmer of hope for the oil-rich nation grappling with chronic fuel shortages.
Billionaire
Aliko Dangote, the refinery's owner, announced the start of production on Tuesday, stating that gasoline could hit the market within the next 48 hours.
Dangote noted that the new product’s pricing is still being finalized by the government and the Nigerian National Petroleum Corporation (NNPC).
"Once we are finished with NNPC, it could be today, it could be tomorrow, then we are ready to roll in to the market," he said.
The refinery, with a
capacity of 650,000 barrels per day, commenced diesel and aviation fuel production in January. However, oil-rich Nigeria has relied heavily on costly gasoline imports due to a lack of domestic refining capacity.
