Aliko Dangote, President of Dangote Refinery, has stated that his refinery provides the solution to Nigeria’s persistent fuel shortages.
Addressing State House Correspondents on Tuesday, the African billionaire urged the Nigerian National Petroleum Company Limited (NNPCL) and fuel marketers nationwide to cease fuel imports.
Dangote, accompanied by Finance Minister and Coordinating Minister of the Economy, Wale Edun, and Presidential Special Adviser on Information and Strategy, Bayo Onanuga, revealed that his refinery, once fully operational, has the capacity to meet the nation’s fuel consumption needs.
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“What I estimated as our consumption daily is about 30-32 million litters, that one we can even start producing that by next week. That is not really an issue because as we speak today, we have 500 million liters in our tanks. With that even if there is no production anywhere or no import, that will take the country more than 12 days.
“We are very ready, we are more than ready and I am also putting my name on the line that we will be able to supply the market 30 million per day and we are ramping up, so we are ready.
“So I am expecting that the NNPCL and the marketers should stop importing, they should come and collect what they need. I don’t know if you understand what it means to keep half of billion liters in our tanks, it is costing me money. Everyday if I am to collect money i can charge 32 percent in interest. That is what I am losing, If they come and collect then you will not see any queue in the filling stations.”
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We should be talking about price reduction before talking about queues.