Fakoyejo OlalekanAliko Dangote, the founder of Dangote Industries Limited, said Dangote Petroleum Refinery and Petrochemicals will commence distribution of petrol and other refined products in July 2023.
Dangote, who is also the richest man in Africa, disclosed that production output will fall between the end of July and the beginning of August.
He stated this on Monday, 22 May 2023, during the launch of the Dangote Petroleum Refinery and Petrochemicals at the Lekki Free Trade Zone, Lago State.
Prime Business Africa had reported earlier today that President Muhammadu Buhari and six other African presidents will attend the commissioning of the Dangote Refinery.
The billionaire, who has investments in sugar, rice, flour and cement amongst others, said petroleum products will be in the market before the “end of July, beginning of August this year,” Dangote said.
He further stated that: “Beyond today’s ceremony, our first goal is to ramp up production of the various products to ensure that within this year, we’re able to fully satisfy our nation’s demand for higher quality products.”
According to Dangote, Nigeria’s dependence on imported petroleum products will be ended once and for all with the commencement of production at his refinery.
Explaining the impact of Dangote Refinery, the investor said the coming onstream of the refiner will make it impossible for toxic and substandard petroleum products to make their way into the Nigerian market.
Meanwhile, Dangote said the refinery, which will serve 100 per cent needs of Nigerians, will also export competitively to other markets, specifically ECOWAS and the African regions.
“Beyond this, we intend to ensure that our plants are run at the highest capacity of utilisation and the highest efficiency to enable us to export competitively to other markets, especially in the ECOWAS and wider regions in which 53 countries out of 55 are dependent on imports to meet their petroleum products demand,” Dangote said, revealing the company’s plan.
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