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Nigeria now consumes its own refined oil, and the first tankers loaded with petrol left billionaire businessman Aliko Dangote’s refinery on September 15.
After eight years of work and months of negotiations an agreement has finally been reached between the Dangote refinery and Nigeria’s national oil company, reports said.
The NNPC has agreed to supply 385,000 barrels of crude oil per day to the Dangote refinery.
In exchange, it will be the sole distributor of gasoline to the refinery, whose production capacity should eventually reach 650,000 barrels of oil per day.
This will make it possible to supply all the country’s petrol stations, and even export some of it.
Until now, Nigeria has imported almost all its oil.
Nigeria’s Minister of Finance, Wale Edun, who was present at the first tanker deliveries, hailed this as a historic event marking the resumption of Nigeria’s march towards industrialization.
Dangote’s fuel is expected to be available at the pumps in early October.
