Aliko Dangote Urges End to Fuel Imports, Cites Dangote Refinery as Solution to Scarcity

Aliko Dangote, President and CEO of Dangote Group, has called for an end to the importation of fuel in Nigeria, expressing confidence that his refinery will resolve the nation’s persistent fuel scarcity issues.

Speaking to reporters in Abuja on Tuesday, Dangote emphasised that the Nigeria National Petroleum Company Limited (NNPCL) and marketers should prioritise local refining to address the recurring fuel queues.

He said, “I have a refinery. I’m not in the business of retail. If I’m in the business of retail, then you hold me responsible.
But what I’m 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? There’s nothing that I can do. So I am expecting either NNPC or the marketers to stop importing, they should come and collect.
We have what they need. And you know, as they remove, I’ll be pumping.”

The business mogul also spoke to the challenges of having stock without the retailers buying from him.

“I don’t know whether you understand what it takes to have a billion liters inside our tank. It’s costing me money. Every day, if I would be able to collect dinero, I can actually charge somebody 32% in interest. So right now, that’s what I’m losing. And you are talking about 500 billion. You know, I mean, we don’t print money, but the issue is that if they come and collect, then you will not see any queues in the filling stations.

We have what it takes for them to come and collect. We are not retailers. We also don’t have trucks to send. We have a factory where we can load. If they come and pick, they will go and distribute. And they’ve been doing that with importation. So if they have been doing that with importation, if it’s true they are doing 55 million, I see no reason why they won’t come and collect and distribute, ” he added.

Meanwhile, President Bola Ahmed Tinubu has urged Nigeria-based refineries to look inward and consider supplying enough petrol and petroleum products for local consumption to stop the persistent reliance on importation.