Aliko Dangote, Chairman of Dangote Group, has unveiled that Nigeria is on the brink of achieving self-sufficiency in petroleum production, effectively eliminating the need for importation starting next month.
Dangote revealed this during the Africa CEO Forum Annual Summit in Kigali on Friday, May 17, 2024, where he expressed optimism about transforming Africa’s energy landscape.
Nigeria, known as Africa’s largest crude oil producer, has long grappled with the irony of importing refined petroleum products despite its abundant oil resources. Dangote Petroleum Refinery promises to alter this narrative significantly. He stated.
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The Africa’s richest man further stated that the imminent achievement is a direct result of the meticulously laid-out plans of the Dangote Petroleum Refinery, a multi-billion-dollar facility set to revolutionize Nigeria’s energy sector.
The refinery, already operational, has made remarkable strides by flooding the market with diesel, consequently driving down prices by ₦1,000 per liter.
In his address at the summit, Dangote expressed unwavering confidence in the refinery’s capabilities, stating that it possesses the capacity to cater for West Africa’s petrol and diesel requirements, in addition to meeting the continent’s aviation fuel demand.
READ ALSO: Again, Dangote Slashes Diesel, Aviation Fuel Prices
“Right now, Nigeria has no cause to import anything apart from gasoline, and by sometime in June, within the next four or five weeks, Nigeria shouldn’t import anything like gasoline; not one drop of a liter.” Dangote boldly declared.
The announcement marks a pivotal moment in Nigeria’s quest for energy independence and underscores Dangote’s commitment to driving socioeconomic development across the continent.
With the Dangote Petroleum Refinery poised to become a beacon of self-reliance and innovation, the future of Nigeria’s energy sector appears brighter than ever before.
