Dangote Refinery To Start Refining By December 2023, To Reach 650,000 Bpd Production Capacity By End Of 2024

 Aliko Dangote has said that the Dangote Refinery will become operational with the refining of 650, 000 barrels per day by the end of 2024.

Dangote, told the Financial Times that by December 2023, the first cargo of about 6 million barrels will be ready for refining.

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“Dangote, 66, said he believed the refinery could reach its capacity of 650,000 barrels a day by the end of 2024,” the report said, adding that “We’re starting with 350,000 barrels a day.”

The refinery at full production will save Nigeria billions in foreign exchange currently spent on imported fuel.

According to Dangote, it was “shameful that Nigeria, a major oil producer for more than 50 years, could not refine its own crude in anything like sufficient quantity.'

Amaka Anku, the head of the Africa practice at political risk consultancy, the Eurasia Group, said the refinery was “a massive, complicated undertaking”.

According to her, in a country where most business people looked for short-term profits, it was a blessing “that we have someone like Dangote who is willing to spend billions of his own money on long-term projects”.

“The challenges that we faced, I don’t know whether other people can face these challenges and even survive,” he said. “It’s either we sink or we sail through. And we thank the Almighty that at least we’ve arrived at the destination,” Dangote had said.