Nigeria can now track daily petrol consumption, says Dangote

• Published On: 03 September 2024 at 19:31

Aliko Dangote, Chief Executive Officer of Dangote Refinery, stated that with the refinery's new gasoline production, Nigeria will be able to accurately track its daily petrol consumption.

According to Nairametrics, Dangote revealed this during a press conference at the petrochemical plant in Lagos on Tuesday.

He emphasized that the $19 billion refinery will address round-tripping and fraudulent documentation of imported gasoline.

He stated that the facility will track every truck and shipment of gasoline, as well as closely monitor consumption patterns across the country.

"As you know, there is a lot of what you call round-tripping, in which people now do documentation while the fuel does not arrive in Nigeria. And this is a fact.

"Right now, as long as this refinery is operational, it will reflect Nigeria's actual consumption. We can track all loaded trucks. And we will make every effort to track the loaded ship.

"We can tell you where the trucks will be." Dangote said, "We can tell you about the consumption pattern and so on."

Dangote also stated that the Federal Executive Council's decision to supply crude oil to the Dangote Refinery in naira will reduce foreign exchange demand by at least 40 percent.

He thanked President Bola Tinubu and his administration for implementing this strategy, which aims to improve Nigeria's energy security.

"I'd like to personally thank Mr. President for coming up with the idea of Naira for Crude and Naira for Product. This will provide significant stability to the Naira by removing 40% of the market's demand for dollars. That's not all.

"Today's discussion is only to thank God Almighty for bringing us to this point of producing gasoline. I know that many people believe we won't be able to deliver. But we've been able to deliver," Dangote explained.

According to previous reports, Dangote Refinery is set to ship its first shipment of petrol today, after completing product testing on Monday.

Aliko Dangote, the CEO, is at the plant to oversee the grand unveiling of the petroleum products, which marks the end of months of delays and technical issues.