Afrigather Aliko Dangote, Africa’s richest man and Chairman of the Dangote Group, has assured that with the implementation of the Dangote Refinery’s plans, Nigeria will now not have to import gasoline beginning subsequent month.
- Aliko Dangote introduced on the Africa CEO Discussion board Summit that Nigeria will now not have to import gasoline beginning subsequent month
- Dangote’s refinery is predicted to produce West Africa’s gasoline, diesel, and aviation gasoline wants
- The refinery will even cease the importation of fertilizer, aiming to make Africa self-sufficient in potash, phosphate, and urea
Dangote made this announcement on the Africa CEO Discussion board Annual Summit in Kigali on Friday, expressing optimism concerning the transformation of Africa’s vitality panorama.
Dangote additionally said that his refinery can provide West Africa’s petrol and diesel wants, in addition to meet the continent’s aviation gasoline demand, Arise reported.
What Dangote stated:
“Proper now, Nigeria has no trigger to import something aside from gasoline and by someday in June, throughout the subsequent 4 or 5 weeks, Nigeria shouldn’t import something like gasoline; not one drop of litre.”
“We have now sufficient gasoline to present to no less than the whole West Africa, diesel to present to West Africa and Central Africa. We have now sufficient aviation gasoline to present to the whole continent and likewise export some to Brazil and Mexico,” he stated.
He additionally added that the content material will quickly cease the importation of fertilizer.
“As I stated, give us three or a most of 4 years and Africa won’t, I repeat, not import any extra fertilizer from wherever. We are going to make Africa self-sufficient in each potash, phosphate, and urea, we’re at three million tonnes and within the subsequent twenty months, we might be at six million tonnes of urea which is the whole capability of Egypt. We’re getting there.”
For many years, Nigeria has been suffering from oil theft and pipeline vandalism, which have hampered the nation’s capacity to satisfy the day by day processing provide quota of the Dangote Refinery, its first non-public indigenous refinery.
Now, the refinery is seeking to buy 24 million barrels of US crude over the approaching 12 months because it will increase processing charges.
FOLLOW BUSINESS INSIDER AFRICA
Our publication offers you entry to a curated number of an important tales day by day.
Thanks for signing up for our day by day perception on the African economic system. We carry you day by day editor picks from one of the best Enterprise Insider information content material so you possibly can keep up to date on the newest subjects and conversations on the African market, leaders, careers and way of life. Additionally be a part of us throughout all of our different channels – we like to be related!
Unblock notifications in browser settings.
