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Business News of Tuesday, 19 September 2023

Source: www.legit.ng

'We are ready' - Dangote refinery announces new take-off date after missing August production deadline

Aliko Dangote Aliko Dangote

Dangote Refinery has announced that it is set to finally commence refining operations by October 2023.

This was disclosed by Dangote Group Executive Director Devakumar Edwin who is overseeing the project.

Edwin told S&P Global Commodity Insights that the refinery is expecting to receive its first shipment of crude oil within the next 2 weeks, and after that, production will begin.

He detailed that the first output of up to 370,000 barrels per day (b/d) will be diesel and jet fuel in October, while petrol refining will commence by November 2023.

Edwin declared: "We are ready to receive crude right now. We are just awaiting the arrival of the first vessel, and the moment it docks, we can commence operations."

Dangote Refinery Project

The Dangote Refinery has a capacity of 650,000 barrels per day, and many Nigerians, including the federal government, hope it will end Nigeria's dependency on imported refined petroleum products.

Experts have also stressed that the refinery has the potential to position Nigeria as an exporter, especially to African countries.

However, in recent months, there have been doubts over the refinery due to repeated delays and missed deadlines.

On May 22, 2023, when former President Muhammadu Buhari commissioned the project, the Chairman of Dangote Group, Aliko Dangote promised the refinery would commence operations by late July or early August.