Aliko Dangote has revealed that the Dangote Refinery has successfully obtained a license to refine over 300,000 barrels of Nigerian crude per day, marking a significant milestone in the oil industry. In an interview during the Saudi-Nigeria business roundtable in Riyadh, Dangote emphasized the refinery's commitment to initiating operations with Nigerian crude rather than foreign sources.
Despite missing the initial production target set for the end of July, Dangote expressed readiness to commence refining "very very soon." The 650,000 barrel-a-day facility, anticipated to yield 27 million litres of diesel, 11 million litres of kerosene, and 9 million litres of jet fuel, will prioritize supplying petrol to Nigeria before expanding to the broader West African region.
Dangote disclosed that the Nigerian National Petroleum Company (NNPC) Limited is set to allocate six million barrels of crude oil to the refinery in December 2023.
The introduction of the Nembe crude oil grade to the market further adds a dynamic layer to Nigeria's evolving oil landscape, with NNPC and Aiteo Eastern Exploration and Production Company managing and marketing the newly introduced crude stream.
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