Nigeria’s Actual Gas Consumption Will Be Visible at the Dangote Refinery – Dangote

Aliko Dangote, the owner of a refinery in Lagos, claims that his $20 billion establishment will accurately depict Nigeria’s daily fuel use.

“There is a lot of round-tripping where people now do documentation and the fuel does not come into Nigeria, and this is a fact,” the billionaire business tycoon stated during a presentation in Lagos on Tuesday to launch Premium Motor Spirit (PMS), popularly known as gasoline, at his refinery.

“As long as this refinery continues to operate, it will demonstrate Nigeria’s actual consumption.

“We will make every effort to track the loaded ships, and we are able to trace every single loaded truck. Just as we can currently pinpoint the precise consumption pattern of some of our items, we can also pinpoint the whereabouts of trucks.

The proprietor of the refinery stated that the product will be released onto the market as soon as his company completes the necessary paperwork with the Nigerian National Petroleum Company Limited (NNPCL).

The precise amount of gasoline consumed everyday in Nigeria has been a source of debate for many years.

In 2022, NNPCL’s official estimate that Nigeria uses 66 million liters of petroleum per day was criticized by a number of people, including former top bank executive Muhammad Sanusi, former governor of Kaduna Nasir El-Rufai, and then-comptroller-general of the Nigeria Customs Service (NCS), Hammed Ali.

“It is an arrangement which is designed and approved by the Federal Executive Council led by His Excellency, President Bola Ahmed Tinubu,” Dangote remarked when asked to comment on the price of gasoline coming from his refinery.

“We are prepared to enter the market as soon as it is finalized, which he (Tinubu) is pushing, once we finish with NNPC. That could be today or tomorrow.”

Declaring that “it’s a celebration day” for Nigerians, he gave assurances to all of the populace that “your vehicle engines will last longer and you will now have good petrol.” You won’t have the engine problems that many of us did. It won’t occur in any way.

“We will ensure that our quality surpasses that of any other place in the world, including the United States and America,” declared Dangote.

Nigeria, the most populous country in Africa, has energy problems because none of its state-owned refineries are now in use. The state-owned NNPCL is the main importer of the necessary goods, and the nation is mostly dependent on imported refined petroleum products.

In the nation, lines for fuel are not uncommon. Due to the decades-long epileptic electrical supply, the cost of gasoline has tripled since the termination of subsidies in May 2023, from approximately ₦200/litre to roughly ₦800/litre. This has made matters worse for the citizens who rely on gasoline to power their cars and generators.