Aliko Dangote, the President of Dangote Industries Limited, has revealed that the Dangote Petroleum Refinery and Petrochemicals' first product will hit the market before the end of “July or the beginning of August” this year.
Speaking at the inauguration of the 650,000 barrels per day (bpd) refinery in Lagos State on Monday, May 22, 2023, Dangote emphasised the company's commitment to meeting Nigeria's demand for high-quality products.
Dangote expressed his desire to eliminate Nigeria's reliance on imported petroleum products, which he described as a tragic dependency that allows for the entry of toxic and substandard goods into the Nigerian market.
He stressed that the refinery's primary objective is to increase production capacity to fulfill the nation's demand for superior products within this year.
“Beyond this, we intend to ensure that our plants are run at the highest capacity of utilisation and the highest efficiency to enable us to export competitively to other markets, especially in the ECOWAS and wider regions in which 53 countries out of 55 are dependent on imports to meet their petroleum products demand,” he added.
Dangote, a billionaire businessman, highlighted the significance of the project for Nigeria, stating that it presents a clear opportunity for the country, aligning with the African Union's commitment to establishing an African common market through the African Continental Free Trade Area (AfCFTA).
The refinery is expected to produce a range of refined products, including Premium Motor Spirit (petrol), diesel (Automotive Gas Oil), aviation jet fuel, and Dual-Purpose Kerosene (DPK).