Africa’s wealthiest man, Aliko Dangote, has announced that fuel from his $19 billion refinery will soon be available across Nigeria and internationally. This update was shared in his interview with Bloomberg at the Saudi-Nigeria business roundtable in Riyadh.
Dangote explained that the start of the refinery’s operations was delayed to prioritize the use of locally produced Nigerian crude oil, rather than importing raw crude. The refinery, with a capacity to refine 300,000 barrels of crude oil daily, is prepared for production. “We don’t want to start our refinery with foreign goods, we want to start with the Nigerian crude,” Dangote said, “We’re more than ready and you will see our gasoline products soon.”
He also emphasized that the primary market for the refinery’s products will be Nigeria, followed by exports to neighboring West African countries and then to the global market. Dangote stated, “The refinery’s first priority is to supply gasoline to Nigeria before exporting to elsewhere, including the West African region.”