{"id":337156,"date":"2024-09-02T22:22:08","date_gmt":"2024-09-02T21:22:08","guid":{"rendered":"https:\/\/www.withinnigeria.com\/news\/?p=337156"},"modified":"2024-09-02T22:22:08","modified_gmt":"2024-09-02T21:22:08","slug":"amid-nnpc-fuel-crisis-dangote-refinery-begins-production-of-petrol","status":"publish","type":"post","link":"https:\/\/www.withinnigeria.com\/news\/2024\/09\/02\/amid-nnpc-fuel-crisis-dangote-refinery-begins-production-of-petrol\/","title":{"rendered":"Amid NNPC Fuel Crisis, Dangote Refinery Begins Production Of Petrol"},"content":{"rendered":"<ul>\n<li><strong>On May 18, Aliko Dangote, Africa\u2019s richest person, said from June, the refinery would begin producing petrol, adding that Nigeria would not have to import the product again.<\/strong><\/li>\n<li><b>In June, the business mogul said due to a minor delay, the refinery would commence petrol supply in July.<\/b><\/li>\n<\/ul>\n<hr \/>\n<p>Dangote Refinery Plc has began production of petrol, after delays due to recent crude shortages.<\/p>\n<p>Anthony Chiejina, chief branding and communications officer of Dangote Group, said this on Monday.<\/p>\n<p>Recall that on August 22, Dangote Petroleum Refinery said it was undergoing test runs for petrol production, with full operation expected to commence by mid-September.<\/p>\n<p>The refinery, built by Africa\u2019s richest man, billionaire Aliko Dangote, began operations in January, initially producing naphtha and jet fuel.<\/p>\n<p>The <a href=\"https:\/\/www.withinnigeria.com\/news\/2024\/09\/01\/nnpc-admits-6bn-debt-to-petrol-suppliers\/\"><strong>Nigerian National Petroleum Corporation (NNPC),<\/strong><\/a> which has been struggling to meet local fuel demand, will be the sole buyer of the gasoline processed by the Dangote Refinery.<\/p>\n<p>The NNPC disclosed on Sunday to be under severe financial strain, owing $6 billion to oil traders for supplies since January.<\/p>\n<p>The debt burden has impacted its ability to maintain a steady supply of fuel in the local market, resulting in persistent fuel queues since July and a sharp 45% increase in fuel prices from the official rate of N617 ($0.3942), following the removal of subsidy May 29, 2023 by President Bola Tinubu.<\/p>\n<p>The $20 billion Dangote Refinery, located on the outskirts of Lagos, has the capacity of 650,000 barrels per day and is poised to significantly reduce Nigeria\u2019s dependency on imported oil products.<\/p>\n<p>Director for Sub-Saharan Africa at political risk consultancy Horizon Engage, Clementine Wallop, noted the refinery\u2019s petrol production could not have come at a more critical time.<\/p>\n<p>\u201cThe news that Dangote is processing gasoline couldn\u2019t come at a more crucial time given NNPC\u2019s statement about its difficulties securing imported supply due to financial strain,\u201d she stated.<\/p>\n<p>\u201cThis prompts the question of how NNPC will manage purchasing from Dangote, and impresses the need for greater transparency in its finances,\u201d Wallop said.<\/p>\n<p>The Dangote Refinery\u2019s gasoline production is expected to alleviate some of the supply challenges faced by the NNPC.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>On May 18, Aliko Dangote, Africa\u2019s richest person, said from June, the refinery would begin producing petrol, adding that Nigeria would not have to import the product again. In June, the business mogul said due to a minor delay, the refinery would commence petrol supply in July. Dangote Refinery Plc has began production of petrol, [&hellip;]<\/p>\n","protected":false},"author":43,"featured_media":337157,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jnews-multi-image_gallery":[],"jnews_single_post":{"source_name":"","source_url":"","via_name":"","via_url":"","override_template":"0","override":[{"template":"2","single_blog_custom":"211693","parallax":"1","fullscreen":"1","layout":"right-sidebar","sidebar":"default-sidebar","second_sidebar":"default-sidebar","sticky_sidebar":"1","share_position":"top","share_float_style":"share-monocrhome","show_share_counter":"1","show_view_counter":"0","show_featured":"1","show_post_meta":"1","show_post_author":"1","show_post_author_image":"1","show_post_date":"1","post_date_format":"default","post_date_format_custom":"Y\/m\/d","show_post_category":"1","show_post_reading_time":"1","post_reading_time_wpm":"300","show_zoom_button":"1","zoom_button_out_step":"2","zoom_button_in_step":"3","show_post_tag":"0","show_prev_next_post":"0","show_popup_post":"0","number_popup_post":"1","show_author_box":"0","show_post_related":"0","show_inline_post_related":"1"}],"override_image_size":"0","image_override":[{"single_post_thumbnail_size":"crop-500","single_post_gallery_size":"crop-500"}],"trending_post":"0","trending_post_position":"meta","trending_post_label":"Trending","sponsored_post":"0","sponsored_post_label":"Sponsored 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