Breaking News: President of Dangote Group, Alhaji Aliko Dangote has yet again lamented that petrol marketers are boycotting products from his refinery despite having 500m litres of oil in the storage reserves.
Dangote stated this on Tuesday, October 29 in an interaction with members of the State House Press after a meeting with President Bola Tinubu and other members of the Implementation Committee of Sale of Crude and Refined Petroleum Products.
Dangote wondered why there is fuel shortage at most filling stations in Nigeria, despite the fact that his refinery can supply enough to satisfy local consumption of petrol.
In his statement made available to 9am News Nigeria Dangote said “We have enough supply of crude; we can actually produce much more than 30 million liters every day. At full capacity, we can even supply whatever is being consumed.
“As we speak today, we have 500 million liters, you know, in our tanks. So, with 500 million liters in our tanks, even if there’s no production from anywhere or no imports, this will take the country more than 12 days, you know, with no imports, with no production, nothing.
“So we are very ready. We are more than ready. And you know, I’m also putting my own name on line by giving Mr President my word that, yes, we will be able to supply the market a minimum of 30 million per day, and we’ll be ramping up production. So, we’re ready. We’re more than ready.”
However, speaking further he lamented that the petrol marketers have kept their distance and refused to procure products from his refinery.
“One thing that you have to understand is that we are producers. I have a refinery, I’m not in the business of retail. If I am in the business of retail, then you hold me responsible. But what I’m saying is that the retailers should please come forward and pick. If they don’t come forward and pick, what do you want me to do?
“So I don’t expect either NNPC or the marketers to stop importing, but the truth is that they should come and pick because we have what they need. And you know, as they remove, I will be pumping. I don’t know whether you understand what it takes to keep have a billion liters inside our tank.
“It’s costing me money every day. If I will be able to collect the naira, I can actually charge somebody 32 percent in interest. So, right now, that’s what I’m losing. And you are talking about 500 million liters, you know, I mean, we don’t print money. But the issue is that if they come and collect the products, then you will not see any queues at the filling stations.
“Moreover, We have what it takes for them to come and collect. We are not retailers. We also don’t have trucks to send the products to the filing stations. Also, We have a factory, we have where they can load. If they come and pick the one. They have been doing that with importation. So, if they’ve been doing that with importation, if it’s true, they are doing 55 million, I see no reason why they won’t come and collect our own and distribute.” Dangote added.
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