Aliko Dangote, President of the Dangote Group, shared details of his recent discussion with President Bola Ahmed Tinubu at the Presidential Villa in Abuja on Tuesday.
The meeting included members of the Crude Oil and Refined Products Sales in Local Currency Implementation Committee, as well as key officials such as the Minister of Finance and Coordinating Minister of the Economy, Wale Edun.
Others present included the Group Chief Executive Officer (GCEO) of the Nigerian National Petroleum Company Limited (NNPCL), Mele Kyari; Federal Inland Revenue Service (FIRS) Chairman, Dr. Zacch Adedeji; and Central Bank of Nigeria (CBN) Governor, Yemi Cardoso. Also attending were the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) Chief Executive, Farouk Ahmed, and Nigerian Upstream Petroleum Regulatory Commission (NUPRC) Chief Executive, Gbenga Komolafe.
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After the meeting, Dangote informed reporters that he assured President Tinubu that his refinery could produce between 30 to 32 million liters of fuel daily to support local supply.
The Africa richest man also said, “We can supply whatever is being consumed, what I estimated as our consumption is about 30-32 million litters that one we can even start producing that one 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 by telling Mr President that we will be able to supply the market 30 million per day and we are rumping up, so we are ready.”
He stated that if importation and production were to halt today, the Dangote Refinery could supply enough to meet local consumption needs for the next 12 days.
“On the streets what you have to understand is that we are producers, I have a refinery, and I am not in the business of retail, if I am in the business of retail you can hold me responsible, but what I am saying is that the retailers should please come forward and pick. If They don’t come forward and pick, what do you want me to do.
“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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