THE chairman of Dangote Group, Aliko Dangote, on Tuesday, October 29, urged petroleum marketers, including the Nigerian National Petroleum Company Limited (NNPCL) to source petrol directly from his refinery to meet local demands.
Dangote who decried poor patronage from industry stakeholders within Nigeria, confirmed the refinery’s readiness to supply fuel after closed-door talks with President Bola Tinubu at the Aso Rock Villa, Abuja.
He stated that the refinery could produce over 30 million litres of fuel daily at full capacity and was holding 500 million litres in reserve, enough to supply the country for over 12 days without imports.
“We’re more than ready,” Dangote assured State House journalists, adding that the refinery’s production capacity could offset Nigeria’s daily fuel consumption demands.
“So, we are very ready. We are more than ready. And you know, I’m also putting my name on the line by giving Mr President my word that, yes, we will be able to supply the market a minimum of 30 million litres per day, and we’ll be ramping up. We are ready. We’re more than ready,” he added.
Commenting on concerns about fuel scarcity in some parts of the country, he said, “Well, on the streets, you have to understand that we are producers. I have a refinery. I’m not in the business of retail. If I’m in the business of retail then you hold me responsible.
“But what I’m 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? That’s something that I can do.
“So I am expecting either NNPC or the marketers to stop importing; they should come and pick because we have what they need. And you know, as they move, I will be pumping.
“I don’t know whether you understand what it takes to keep a billion litres inside our tank. It’s costing me money every day. If I can collect the naira, I can charge somebody 32 per cent in interest. So right now, that’s what I’m losing.
“And you are talking about 500 million, you know, I mean, we don’t print money. But the issue is that if they come and collect, then you will not see any queues in the filling stations.”
Meanwhile, following the total removal of petroleum subsidy by the Tinubu-led administration, Nigerians have again witnessed upward price. Again, on Tuesday residents in Lagos and Abuja are paying N1,025 and N1060 per litre, respectively.
Notably, the price was previously at N1,030 in Abuja and N998 in Lagos at NNPCL stations, while other stations charged between N1,150 and N1,200 per litre.
The ICIR reports that the NNPCL outlets across Lagos and Abuja displayed the new prices, a move attributed to prevailing economic conditions that could further strain Nigerians already facing a steep cost of living.
Since President May 29, 2023, announced the end of the fuel subsidy, petrol prices have soared from N145 to over N1,000, intensifying the financial strain on citizens.
Harrison Edeh is a journalist with the International Centre for Investigative Reporting, always determined to drive advocacy for good governance through holding public officials and businesses accountable.