Aliko Dangote, owner of the Lagos-based Dangote Refinery, has announced that his $20 billion facility will unveil the true daily petrol consumption in Nigeria.
Speaking at a conference in Lagos on Tuesday, September 3, 2024, where the refinery commenced the rollout of Premium Motor Spirit (PMS), Dangote highlighted the refinery’s role in eliminating discrepancies related to fuel imports and distribution.
“There is a lot of round-tripping where people do documentation and the fuel does not actually enter Nigeria. This refinery will reveal Nigeria’s true consumption,” Dangote said. He added that with the refinery operational, every loaded truck and ship will be closely monitored to accurately track consumption patterns.
Dangote also mentioned that once modalities with the Nigerian National Petroleum Company Limited (NNPCL) are finalized, petrol from his refinery will soon hit the market.
The exact volume of Nigeria’s daily petrol consumption has been a topic of controversy for years. In 2022, various officials, including the Comptroller-General of the Nigeria Customs Service, Hammed Ali, and former Central Bank Governor Muhammad Sanusi, questioned the NNPCL’s figure of 66 million litres per day.
On pricing, Dangote stated, “It is an arrangement designed and approved by the Federal Executive Council led by President Bola Ahmed Tinubu. We are ready to roll into the market as soon as the final approvals are given.”
He assured Nigerians that the quality of the petrol would be world-class, stating, “Your vehicles will last longer; you will not have engine issues. The quality will match that of any place in the world,” He said.
