“This strategic shift aims to reduce the higher costs associated with road distribution,” explained Devakumar Edwin, Vice President of Oil & Gas at Dangote Industries Limited.
As the Dangote Refinery officially began petroleum loading on Sunday, September 15, billionaire industrialist Femi Otedola praised the Tinubu administration for facilitating the project, remarking that “fuel queues are now a thing of the past.”
With a 650,000-barrel-per-day capacity, the refinery is the largest in Africa and a critical project meant to reduce Nigeria’s reliance on costly fuel imports. Its introduction is expected to improve the availability of petroleum products, stabilise home fuel costs, and improve the nation’s trade balance.
With at least 300 trucks positioned for distribution, the Nigerian National Petroleum Corporation Limited (NNPC) verified the start of refined petrol lifting from the refinery.
Within two weeks, the federal government is expected to complete contracts for the naira-denominated sale of crude oil to regional refineries. This action, along with the beginning of the distribution of refined petroleum products, highlights the government’s resolve to fortify the domestic energy sector and lessen dependency on foreign exchange.
