Economy
Dangote Refinery To Start Selling Fuel By 2020 and Help Solve Nigeria Oil Problems
The Dangote refinery plans to start selling petrol, diesel and aviation fuel by early 2020, but the fertiliser plant, will start producing urea this year, Edwin Devakumar, the group executive director told Bloomberg.
The $10 billion refinery, set to be one of the world’s largest and which can process 650,000 barrels of crude a day, should be near full capacity by mid-2020, Devakumar said in the interview.
Aliko Dangote, worth $12.4 billion according to the Bloomberg Billionaire’s Index, has said the refinery can transform Nigeria by weaning it off fuel imports and generating foreign exchange through exports. Despite being Africa’s biggest crude producer and an OPEC member, the West African nation ships in almost all its gasoline and diesel from abroad because of the decrepit state of its government-owned refineries.
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