BTA2023 Aliko Dangote, President of Dangote Group, confidently declared on Tuesday that his refinery has more than enough capacity to meet local gasoline demand, pointing out that around 500 million litres of fuel remain uncollected by retailers.
Speaking to State House journalists after a meeting with President Bola Tinubu and the Implementation Committee for the Sale of Crude and Refined Petroleum Products, Dangote expressed his frustration with the ongoing fuel shortages at many filling stations.
“We possess an ample supply of crude and can produce significantly more than 30 million litres every day. At full capacity, our refinery can supply the entire local consumption. Right now, we have 500 million litres in our tanks. Even without any production or imports, this stock would last the country over 12 days.
“We are ready. I am pledging that we can consistently supply a minimum of 30 million litres per day and will scale up production as needed,” he asserted.
Regarding the fuel shortages and long queues at filling stations, Dangote emphasised that marketers must take responsibility. “It’s essential to recognise that we are producers. I own a refinery; I am not a retailer. If I were in retail, accountability would rest with me. However, the retailers must come forward to collect the fuel. If they don’t, I cannot be held liable.
“I do not expect NNPC or the marketers to cease imports, but the reality is that they should be coming to collect the fuel we have available. As they take from us, I will keep pumping more. Maintaining a billion litres in our tanks is costing me money daily. If I could collect funds, I could charge an interest rate of about 32 percent, highlighting my losses.
“We’re talking about 500 million litres here; we don’t print money. The bottom line is clear: if they actively come and collect the products, the queues at filling stations will disappear. We have the infrastructure ready for them to load fuel. We are not retailers, nor do we have trucks for distribution.
“They have managed to collect fuel through imports, so if they can handle 55 million litres in imports, there is absolutely no reason why they can’t come to us and collect for distribution.”
