Dangote Refinery, owned by Aliko Dangote, has announced a new timeline for commencing fuel supply in the Nigerian market, now set for August 2024.
Aliko Dangote revealed this during discussions with journalists on Sunday, highlighting the resolution of crude oil supply challenges with support from the Nigeria National Petroleum Company Limited (NNPCL) and the federal government.
The refinery, boasting a capacity of 650,000 barrels per day, is situated at the Lekki Free Trade Zone in Lagos.
During a guided tour, Dangote also confirmed that the refinery’s fertilizer unit will resume production within two weeks, aiming to enhance availability of fertilizer for farmers.
The company’s latest report outlines plans to scale up production, targeting 500,000 barrels per day by August next year, 550,000 barrels per day by the end of 2024, and reaching 650,000 barrels per day by Q1 2025. Gasoline production is slated to begin in July, with sales expected from August onwards.
Originally commissioned on May 22, 2023, the Dangote Refinery has encountered delays but remains steadfast in its commitment to significantly impact Nigeria’s fuel and fertilizer sectors.
In related updates, it was announced that NNPCL now holds a reduced stake of 7.2 percent in the refinery, down from an earlier 20 percent.
