By MUHYIDEEN JIMOH

Alhaji Aliko Dangote, President, Dangote Group, ‎says the era of fuel queues during yuletide is gone, assuring that increased output from his refinery will fully meet national demand.

‎He gave the assurance on Friday while speaking with State House Correspondents after what he described as a routine meeting with President Bola Tinubu at the State House, Abuja.

‎Dangote said the refinery had notified the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) of its ability to supply 50 million litres of petrol daily, surpassing national consumption needs.

‎He said, ‘Historically, Nigeria has battled fuel queues since 1972. For the first time, we are eliminating those queues, not through imports but by producing locally.

‎“Even when we were servicing the refinery, there were no queues. I can assure you that queues are now history.”

‎Dangote added that neighbouring countries would also benefit, noting that by February 2026, the refinery would supply 15 to 20 million litres above Nigeria’s consumption.

‎He added, “So, we must export. Even our neighbours won’t experience queues because they can buy from us.”

‎Dangote highlighted gains for domestic manufacturers, especially in the plastics sector, which previously spent up to 400 million dollars yearly on imported feedstock.

‎He said the refinery’s long-term plan included expanding to 1.4 million barrels per day by 2028, overtaking India’s Reliance refinery, currently the world’s largest at 1.25 million barrels daily.

‎“We have already signed the necessary agreements. Construction piling begins before the end of January, and we will deliver on schedule,” the business mogul said.

‎He also disclosed plans to raise urea production to 12 million tonnes yearly, positioning Nigeria ahead of Russia and Qatar as the world’s biggest producer.

‎Dangote added, “Our goal is to use our fertiliser company to supply the entire African continent.”

‎Responding to questions on the recent drop in petrol and diesel prices, he attributed it to increased competition and reduced smuggling.

‎He said, “Prices are going down because we must compete with imports. Luckily, smuggling has dropped significantly, though not completely.”

‎Dangote stressed that the refinery was built for long-term value, not short-term profit.

He added, ‎“We’re not here to recover 20 billion dollars overnight; this is a long-term investment.

‎“The legacy I want to leave is that whatever Nigerians need, fuel, fertiliser, power, we will be part of delivering it.”

‎Dangote endorsed the Tinubu administration’s Naira-for-crude policy, describing it as a patriotic initiative to strengthen the local economy, despite early resistance from international oil companies.

‎He explained, “It’s a teething problem, but it will be resolved, either through legislation or administrative action.”

‎Dangote emphasised that industrial investment, not extravagant acquisitions, remained the surest path to sustainable economic growth. (NAN)

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