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The Dangote Refinery, a $20 billion venture led by billionaire Aliko Dangote, has officially commenced petrol production. This landmark event is poised to address the persistent petrol shortages in Nigeria, offering substantial relief to the nation’s fuel crisis.
In a press briefing on Wednesday, Dangote highlighted the refinery’s potential to drive growth and development by providing much-needed energy. He expressed his appreciation for President Bola Tinubu’s administration for creating a supportive environment that contributed to the project’s success.
“I salute the people of Nigeria and President Bola Tinubu’s government for creating the conditions that allowed us to achieve this monumental task. This refinery will drive growth, development, and prosperity by providing energy to our people,” Dangote said.
Dangote praised the “Naira for crude, Naira for product” initiative by Tinubu’s government, which he believes will help stabilize the Naira by reducing the reliance on dollars for fuel imports by 40%. He emphasized the refinery’s capacity to accurately track fuel consumption, ensuring transparency in distribution.
The refinery is expected to meet not only Nigeria’s fuel demands but also those of sub-Saharan Africa. On the quality of the petrol produced, Dangote assured that it will match international standards, promising that vehicles will experience fewer engine issues compared to past standards.
“You will not be having engine issues, which a lot of us were having. It won’t happen at all. The quality here will match that of anywhere in the world; we will make sure that nobody will beat us in terms of quality,” Dangote asserted.
