Aliko Dangote, Chairman of Dangote Refinery, has urged the Nigeria National Petroleum Company Limited (NNPCL) and other fuel importers to cease importing fuel, emphasizing that the refinery has more than 500 million litres of fuel in storage.
He believes that if regulators allow marketers to purchase directly from the refinery, there would be no fuel shortages or queues in Nigeria.
Speaking to State House correspondents after a meeting with President Bola Tinubu on ongoing fuel shortages, Dangote stated, “With sufficient crude supply, we can produce over 30 million litres daily.” At full capacity, the refinery could meet Nigeria’s fuel needs, currently estimated around 30 to 32 million litres per day.
Dangote assured that the country’s existing stock could last over 12 days, even without additional imports or production.
However, he highlighted that the refinery does not manage retail distribution, urging NNPC and marketers to collect fuel directly to help end the shortages.
“If marketers come and collect from our tanks, there will be no queues. The supply is available, but we are not retailers,” Dangote explained.
He also noted that storing large fuel reserves is costly for the refinery, and efficient distribution by marketers would help avoid unnecessary financial losses.