Dangote Group has announced that its refinery would be commissioned by the end of first half in 2021.
The Group Executive Director, Dangote Group, Devakumar Edwin, explained that when commissioned, the facility would meet 100% need of the country and export balance.
When production starts, the refinery will be able to process 650,000 barrels of crude oil per day into refined petroleum products. This will help Nigeria become an oil refining country and oil exporter as the country’s refineries are in dilapidated state. The capacity of the Dangote Refinery would eliminate fuel import from other regions into Nigeria.
No crude-for-fuel swap deal: Edwin also stated that the Dangote refinery would not be involved in NNPC’s (Nigerian National Petroleum Corporation) crude-for-fuel swap deal.
“We are going to buy the crude just at the export price and will sell our products at the import price, the crude swap is operating only for the importers of the product.”