President of Dangote Group, Aliko Dangote said that the fuel queues in Nigeria will vanish if marketers begin to buy from his refinery.
Aliko Dangote met with President Bola Tinubu on Tuesday, October 29. with other members of the Crude oil and Refine Products sales in Local Currency implementation committee.
Speaking with reporters at the State House, Dangote urged the Nigeria National Petroleum Company Limited (NNPCL) and fuel marketers across the country to stop importing fuel.
Accompanied by the Minister of Finance and Coordinating Minister of the Economy, Wale Edun, and the President’s Special Adviser on Information and Strategy, Bayo Onanuga, Dangote revealed that his refinery can meet the country’s fuel needs when operating at full capacity.
He said, “We can supply whatever is being consumed, what I estimated as our consumption is about 30-32 million litters that one we can even start producing that one by next week, that is not really an issue because as we speak today. We have 500 million liters in our tanks. With that even if there is no production anywhere or no import that will take the country more than 12 days.
“We are very ready, we are more than ready and I am also putting my name on the line by telling Mr President that we will be able to supply the market 30 million per day and we are rumping up, so we are ready.”
He added that if all fuel imports and production were to stop today, the Dangote Refinery could cover local consumption for the next 12 days.
Dangote emphasized that he expects the NNPCL and marketers to stop importing fuel and start buying from his refinery in order to end the long queue in the country.
He said, “On the streets what you have to understand is that we are producers, I have a refinery, and I am not in the business of retail, if I am in the business of retail you can hold me responsible, but what I am saying is that the retailers should please come forward and pick. If They don’t come forward and pick, what do you want me to do.
“So I am expecting that the NNPCL and the marketers should stop importing, they should come and collect what they need. I don’t know if you understand what it means to keep half of billion liters in our tanks, it is costing me money. Everyday if I am to collect money i can charge 32 percent in interest. That is what I am losing, If they come and collect then you will not see any queue in the filling stations.”
KanyiDaily recalls that Aliko Dangote recently saw his wealth more than double to $28 billion, following the launch of his oil refinery.
