Africa’s richest man Aliko Dangote is nearing a significant milestone in his business empire as the Dangote Oil Refinery, touted as Africa’s largest integrated petrochemical complex, prepares to receive its first crude oil cargo in just two weeks.
This comes on the heels of a revised timeline for the commencement of operations at the much-anticipated Dangote Oil Refinery. Devakumar Edwin, the executive director of Dangote Group, confirmed this recent development during a press conference.
While speaking in an interview with S&P Global Commodity Insights on Monday, Devakumar Edwin clarified that the refinery’s temporary importation of crude oil was a stopgap measure, and from November onwards, it would source its crude supply from the Nigerian National Petroleum Corporation Limited (NNPCL).
“The refinery is ready to receive crude oil right now. We are just waiting for the first vessel, and as soon as it arrives, we can start production,” Edwin emphasized. He also outlined plans for a gradual increase in petrol production, with the refinery expected to produce an impressive 650,000 barrels per day by Nov. 30.
The refinery’s timeline faced a setback when it missed its initial production deadline in August. However, according to an official statement by Devakumar Edwin, the Dangote Oil Refinery is now gearing up for refining operations to commence in October 2023.
The impact of the Dangote Oil Refinery on Nigeria’s economy is anticipated to be substantial. It is expected to reduce the nation’s reliance on imported refined petroleum products and elevate Nigeria’s status as a regional energy hub.
Consequently, industry stakeholders are eagerly awaiting the commencement date in October 2023, with high hopes that it will mark a pivotal moment for this ambitious petrochemical complex.
The Dangote Oil Refinery project, a focal point of international interest, stands as a resounding testament to the unwavering dedication of Dangote and Dangote Group.
The endeavor showcases their resolve to make substantial contributions to Africa’s energy sector and fortify Nigeria’s standing within the global energy market.