Dangote Refinery Set to Launch Petrol Sales in August 2024

Aliko Dangote, the president of the Dangote Group, has announced that the Dangote Refinery is now ready to begin producing and selling petrol starting in August 2024. 

This comes after the refinery resolved a major dispute with international oil companies over the supply of crude oil feedstock. The Nigerian government and state oil company NNPC Limited helped mediate the conflict, allowing the refinery to secure the necessary crude oil supply. 

The 650,000 barrel-per-day refinery had initially faced delays in kicking off fuel distribution due to this supply dispute. However, with the issue now resolved, Dangote stated that gasoline production will commence in July, with sales to fuel marketers starting in August. 

The Dangote Refinery is poised to be a game-changer for Nigeria, as it is expected to wean the country off its reliance on imported fuel, which consumes a significant portion of its foreign exchange. The refinery is also projected to generate over $26 billion in annual revenue. 

The successful launch of petrol sales from the Dangote Refinery next month will be a major milestone for Nigeria's energy sector and a testament to the government's efforts to boost domestic refining capacity.