Dangote Refinery Holds Over 500 Million Litres of PMS, Aims to Export 60% of Production
Dangote Industries Limited (DIL) has made significant strides in Africa’s energy sector, with President Aliko Dangote revealing that its refinery currently holds more than 500 million litres of Premium Motor Spirit (PMS) and petroleum products valued at N600 billion. The refinery’s production has not only met Nigeria’s domestic needs but also surpassed them, enabling Dangote Industries to export 60% of its output to regional and international markets. The refinery’s capacity to produce gasoline, diesel, and kerosene has positioned it as a key player in Africa’s energy landscape.
During a recent visit by a Zambian government delegation, Dangote emphasized that the refinery’s operation was not limited to serving Nigeria alone, but was designed with the broader African market in mind. He highlighted that while Nigeria’s maximum local consumption only accounted for 40% of the refinery’s output, the remaining 60% would be exported across Africa, supporting trade within the African Continental Free Trade Area (AfCFTA). Dangote also disclosed that efforts were underway to resolve financing issues with the help of Afreximbank, ensuring smooth trade and distribution across the continent.
The Zambian government, which is exploring energy security and reducing reliance on fuel imports, expressed interest in sourcing refined petroleum products from Dangote’s refinery. The collaboration aims to boost Zambia’s energy security and enhance intra-continental trade. Zambia’s Minister of Energy, Makozo Chikote, noted that Zambia’s recent energy reforms have shifted the country away from procuring petroleum directly, and the government is keen to partner with Dangote to secure reliable fuel supplies.
Following a tour of the refinery and related facilities, including the largest fertilizer plant in Africa and the refinery’s jetty at the Free Trade Zone in Ibeju Lekki, Chikote expressed optimism about the potential benefits of collaborating with Dangote Industries. The visit underscored Zambia’s energy challenges and the alignment of Dangote’s refinery with their strategic goals to improve energy supply and fuel security within the region.
SOURCE: GUARDIAN