Chairman of Dangote Refinery, Aliko Dangote, on Tuesday told the Nigerian National Petroleum Company Limited (NNPCL) and other importers of fuel products to stop the importation as his firm has over 500 million litres in the tank that can comfortably serve Nigeria.
Dangote also said there is no need for fuel queue in the country if marketers are allowed by the regulators to come to the refinery to buy the products.
Stating that if the Dangote Refinery is supplied with enough crude oil by the NNPCL, the refinery has the capacity to produce more than 30 million litres a day.
Dangote told journalists at the State House after a meeting with President Bola Ahmed Tinubu that “yes, with enough supply of crude, we can actually produce much more than 30 million liters every day. At full capacity, we can even supply whatever is being consumed.
“But what I estimated as consumption, which I believe may be about 30,32 million that one we can even start producing that by next week. So, it is not really an issue because as we speak today, we have 500 million liters in our tanks.
“So, 500 million liters in our tanks even if there’s no production or no imports, this will take the country more than 12 days, with no imports, with no production, nothing. So, we are very ready. We are more than ready.
“And you know, I’m also putting my own name online by giving Mr President my word that, yes, we will be able to supply the market minimum 30 million per day, and we’ll be ramping up. So we’re ready. We’re more than ready.”
Reminded that the reality on ground does not show that Dangote Refinery has enough fuel that would last for 12 days, because there is scarcity of the product, he said: “Well, one thing that you have to understand is that we are producers. I have a refinery. I’m not in the business of retail. If I’m in the business of retail then you hold me responsible. But what I’m saying is that, the retailers should please come forward and pick.
“If they don’t, come forward and pick, what do you want me to do? So, I am expecting either NNPC or the marketers to stop importing, they should come and pick because we have what they need. And you know, as they removed, I will be pumping. I don’t know whether you understand what it takes to keep half a billion liters inside our tank. It’s costing me money every day.
“If I will be able to collect the naira, I can actually charge somebody 32% in interest. So right now, that’s what I’m losing. And you are talking about 500 million, I mean, we don’t print money. But the issue is that if they come and collect, then you will not see any queues in the filling stations.
“We have what it takes for them to come and collect. We are not retailers. We also don’t have trucks to send. We have a factory, we have where they can load. If they come and pick they will go and sell and they have been doing that with importation. So if they’ve been doing that with importation, if it’s true, they are doing 55 million, I see no reason why they won’t come and collect our own and distribute.”
