Dangote Plans Increased Petrol Exports Amid Global Crisis

Aliko Dangote, the billionaire businessman and head of the Dangote Group, made a fresh declaration regarding his refinery's operations amid a global crisis affecting oil supply. He promised that the Dangote refinery would increase petrol exports to African countries, which are grappling with supply disruptions due to ongoing conflicts, particularly involving Iran.

During a tour of the facility, Dangote noted that the refinery has already shipped 17 cargoes of gasoline to various African nations and is also set to export urea fertilizer, with a production capacity of three million metric tons annually. This initiative is aimed at cushioning the effects of rising fuel prices in Nigeria, which have reached record highs due to increasing global crude oil prices.

The Nigerian National Petroleum Company has reportedly increased crude allocations to the refinery, scheduling seven cargoes for May, up from five in the previous month. Additionally, Dangote disclosed that the refinery is seeking to purchase crude oil cargoes in local currency to help reduce domestic fuel costs.