February 24, (THEWILL) – President and Chief Executive Officer of Dangote Group, Aliko Dangote has given Nigerians the assurance that Dangote Refinery has more than enough petrol in storage to meet the country’s daily consumption needs.
His assurance is coming on the heels of the Federal Government’s claim last week that though local petrol consumption has dropped to 50 million litres per day, the local refineries were only supplying half of the daily requirements and the government still importing the shortfall.
According to the Executive Director, Distribution Systems, Storage and Retailing Infrastructure, Nigerian Midstream and Downstream Petroleum Regulatory Authority, NMDPRA, Mr. Ogbugo Ukoha, petrol importation became necessary to ensure that scarcity does not return to the downstream sector.
Ukoha who said that none of the companies involved in local refining of the product was involved in the importation, disclosed that,“Of these 50 million litres averaging for each day, less than 50 per cent of that is contributed by domestic refineries and so the shortfall in accordance with the PIA (Petroleum Industry Act) is sourced by way of imports”.
However, Aliko Dangote, who spoke at the weekend during a tour of his refinery by a delegation from the Zambian Government, led by the country’s Minister of Energy, Mr. Makozo Chikote, said, “The refinery has more than half a billion litres of petroleum and over N600 billion worth of products in its tanks, adding that “…as we speak right now we have more than half a billion litres. The refinery is producing enough refined products, like gasoline, diesel, and kerosene, to meet 100 per cent of Nigeria’s requirements.”
Explaining further to the East African delegation, which said one lesson they had learned from the visit was that Dangote looks at the bigger picture for Africa, the Vice President of Dangote Industries Limited, Edwin Devakumar said that the Refinery produces the best quality products as its core business strategy.
“The project concept was to process the crude from Nigeria and add value. But we also wanted to provide some flexibility to process most of the African crudes and some of the Middle Eastern crudes,” he said, adding that, “In another concept, what we did was maximum value extraction. That is a process where every barrel of crude which goes in, the value addition should be the best.”
Edwin said the refinery can meet all requirements. “44 per cent can meet the entire requirements of Nigeria, and 56 per cent of the production would be exported. Every day, we produce lighter products of 104 million litres; 57 million litres of petrol every day; 20 million litres of jet fuel; and 27 million litres of diesel production.
“The local consumption is just around 46 million litres, and the remaining 58 million litres will be exported daily,” he added.
THEWILL recalls that the nation’s oil sector regulator, the Nigeria National Petroleum Company Limited, NNPCL, almost renewed their earlier rivalry with Dangote Refinery last week when a consumer in a viral video on social media stated that the petrol he bought at an NNPCL retail outlet in Lagos was inferior, compared to the one he bought at MRS, a major outlet for Dangote petrol.
Chief Communication Officer of the NNPCL, Mr Olufemi Soneye, who rose in quick rebuttal, said the man’s assertion was “baseless and entirely unfounded, originating from unverified and amateur research that lacks credibility, accuracy, and professional oversight.”
Soneye stated that the NNPC Limited fuel is carefully formulated with one of the best compositions, ensuring optimal efficiency, durability, and environmental sustainability for consumers.
According to him, a significant percentage of Premium Motor Spirit (PMS) sold at NNPC retail stations in Lagos—where this deceptive video was created—is sourced from the Dangote Refinery, a strategic partner in promoting local production and energy security.
Dangote Refinery, Soneye added, adheres to strict industry standards, guaranteeing the quality of petroleum products supplied to our consumers.
He noted that the “misleading video” represented yet another desperate attempt by economic saboteurs to misinform the public and tarnish NNPC Limited’s reputation.
“We will not tolerate deliberate misinformation designed to undermine our operations and mislead Nigerians, “Soneye warned, adding, “Henceforth, NNPC Limited will take firm legal action against individuals or groups who intentionally spread falsehoods about our brand and operations. Those engaged in such malicious activities will be held fully accountable under the law.”
Felix Ifijeh is a journalist with years of professional reporting experience. Known for his keen news sense, compelling storytelling and commitment to accurate, impactful reporting, he has built a reputation for turning leads into clear, engaging, and well-structured reports that resonate with readers. His work reflects deep newsroom experience and a commitment to accurate, impactful journalism.
