Dangote refinery to revolutionize Nigeria’s petrol tracking

The Chief Executive Officer of Dangote Refinery, Aliko Dangote, announced that Nigeria is now equipped to accurately monitor its daily petrol consumption with the launch of the refinery’s new gasoline production.

Addressing the media on Tuesday at the petrochemical plant in Lagos, Dangote detailed how the $19 billion refinery will tackle issues of round-tripping and fraudulent documentation of imported petrol.

The facility will enable precise tracking of each truck and shipment of petrol, providing a clear view of consumption patterns across the country.

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“There has been a significant amount of round-tripping, where documentation shows fuel coming into Nigeria, but it doesn’t arrive. With this refinery operational, we can track every loaded truck and ship, offering a true picture of Nigeria’s petrol consumption,” Dangote said.

Additionally, Dangote highlighted the Federal Executive Council’s initiative to supply crude oil to the refinery in naira, which is expected to reduce the demand for foreign exchange by approximately 40%.

He expressed appreciation to President Bola Tinubu and his administration for this strategic move, which aims to strengthen Nigeria’s energy security and stabilize the naira.

“I want to personally thank Mr. President for the Naira for Crude and Naira for Product initiatives. This will provide significant stability for the naira by reducing dollar demand,” Dangote added.

The Dangote Refinery is set to make its first petrol shipment today, following the successful completion of product testing on Monday. The grand unveiling marks the end of months of delays and technical challenges, as Dangote oversees the introduction of these new petroleum products to the market.