Sub-Saharan Africa’s largest petrochemical complex, the $20-billion Dangote Oil Refinery, owned by billionaire Aliko Dangote, is attracting interest from seven oil marketers who have registered for fuel distribution in Nigeria.
The oil marketers include Conoil Plc, led by telecom and oil billionaire Mike Adenuga, 11 Plc, OVH Energy Marketing, Total Nigeria Plc, NNPC Retail, Ardova Plc (formerly owned by Femi Otedola), and MRS Oil (majority owned by Sayyu Dantata, the half-brother of Aliko Dangote).
The marketers, affiliated with the Major Oil Marketers Association of Nigeria (MOMAN), have registered with the refinery for the lifting and distribution of refined petroleum products. The dealers confirmed on Sunday their intention to commence the distribution of fuel produced by the mega refinery once commercial terms are finalized.
This development follows the commencement of production of Automotive Gas Oil (diesel) and JetA1 (aviation fuel) at the Dangote Oil Refinery. According to recent statements by the refinery, the products adhere to Euro V specifications.
In addition to MOMAN’s move, the Independent Petroleum Marketers Association of Nigeria (IPMAN) has announced plans to meet with the refinery’s management this week to discuss product loading terms. Similarly, the Petroleum Products Retail Outlets Owners Association of Nigeria (PETROAN) has been engaging with the refinery for the supply of products from the facility.
Aliko Dangote, chairman of Dangote Group, Africa’s most diversified manufacturing conglomerate, expressed gratitude to Nigerian President Bola Tinubu for his unwavering support, calling the production launch a testament to Tinubu’s visionary leadership.
Dangote extended appreciation to bankers, financiers, the Lagos State Government led by Babajide Sanwo-Olu, and the host communities and their traditional leaders for their support.
The Dangote Oil Refinery, boasting a world-record capacity of 650,000 barrels per day, aims to meet 100 percent of Nigeria’s demand for refined petroleum products, including petrol, diesel, kerosene, and jet fuel.
Despite initial operational delays, the facility is now positioned to fulfill its commitment to supplying gasoline to the country, following the successful arrival of the sixth and final batch of one million barrels of crude oil required for initial operations.
The refinery’s infrastructure includes truck-loading gantries capable of loading 2,900 trucks a day, ensuring efficient distribution. The facility’s design aligns with international standards, including those set by the World Bank, US EPA, European emission norms, and DPR emission-effluent norms.