The proprietor of Dangote Refinery, Aliko Dangote, has declared August 2024 as the revised timeline for commencing fuel distribution in the Nigerian market.
Dangote revealed this information on Sunday in Lagos during discussions with the press.
He highlighted that the issues pertaining to crude oil supply have been successfully resolved through collaboration with the Nigeria National Petroleum Company Limited (NNPCL) and the Nigerian federal government.
The challenge of crude supply was effectively addressed last week following the intervention of the federal government.
During a guided tour of the refinery, boasting a capacity of 650,000 barrels per day, situated at the Lekki Free Trade Zone in Lagos, journalists were informed of the upcoming resumption of the fertilizer unit within two weeks.
This development is expected to enhance farmers’ access to fertilizers for their agricultural produce.
The company’s report outlined plans to scale up production to achieve 500 kbpd (equivalent to 15 crude cargoes per month) by August next year, 550 kbpd by the end of the current year, and 650 kbpd by the first quarter of 2025.
Gasoline production is set to commence in July with sales scheduled to begin in August.
This progression indicates a significant journey towards the full-scale production launch at the Dangote Refinery, which was inaugurated on May 22, 2023.
Initially, Dangote had projected the initiation of fuel supply in Nigeria by mid-July 2024.
The company announced a reduction in NNPCL’s ownership stake in the refinery from 20% to 7.2%.
