Aliko Dangote, Africa’s richest person, has announced that Nigeria will cease importing petrol by June.
Speaking at the Africa CEO Forum Annual Summit in Kigali, Dangote revealed that his refinery will commence production next month, meeting Nigeria’s petrol needs and eliminating the need for imports.
“Right now, Nigeria has no cause to import anything apart from gasoline and by sometime in June, within the next four or five weeks, Nigeria shouldn’t import anything like gasoline; not one drop of litre,” he said.
The refinery will also produce diesel, aviation fuel, and other essential products, making Africa self-sufficient in these commodities.
With a capacity of 650,000 barrels per day, the refinery will meet the demands of West Africa and beyond.
Dangote emphasized that the refinery will not only focus on petroleum products but also produce polypropylene, polyethylene, base oil, and linear benzyl, raw materials essential for producing detergents and other products.
This will reduce Africa’s reliance on imports and make the continent self-sufficient in these critical products.
Dangote expressed his optimism that within three to four years, Africa will no longer need to import fertilizers, as his refinery will produce urea, potash, and phosphate, meeting the continent’s needs.
The refinery’s second phase is set to begin early next year, further expanding its operations and impact on Africa’s energy landscape.