Dangote Refinery Ready to Supply Nigeria Amid Crisis

Aliko Dangote, the owner of Dangote Refinery, stated that the refinery is equipped to supply Nigeria and other African nations in light of the ongoing crisis in the Middle East, which has led to supply shocks and increased fuel prices. The refinery currently operates at full capacity, producing 650,000 barrels of oil per day.

Dangote disclosed that the refinery has already shipped 17 cargoes of gasoline to several African countries facing supply shortages. Additionally, the refinery has ramped up the export of urea fertilizer in response to rising demand.

The refinery's capacity to produce urea is three million metric tons annually, traditionally targeting export markets in the United States and South America. Despite the refinery's output, fuel prices in Nigeria continue to rise to record levels, driven by high global crude prices.

Dangote expressed optimism that sourcing crude oil locally could help reduce costs and stabilize domestic fuel prices.