The $20 billion Dangote Oil Refinery, owned by billionaire Aliko Dangote, is gaining attention from seven oil marketers who have registered to distribute petroleum in Nigeria.
The oil marketers include Conoil Plc, managed by telecom and oil tycoon Mike Adenuga, 11 Plc, OVH Energy Marketing, Total Nigeria Plc, NNPC Retail, Ardova Plc (previously owned by Femi Otedola), and MRS Oil (primarily held by Sayyu Dantata, Aliko Dangote’s half-brother).
Marketers connected with the Major Oil Marketers Association of Nigeria (MOMAN) have registered with the refinery to lift and distribute refined petroleum products. On Sunday, dealers affirmed their intention to begin distributing petroleum produced by the massive refinery provided commercial agreements are agreed.
The Dangote Oil Refinery now produces Automotive Gas Oil (diesel) and JetA1 (aviation fuel). According to current assertions from the refinery, the goods meet Euro V requirements.
In addition to MOMAN’s decision, the Independent Petroleum Marketers Association of Nigeria (IPMAN) has announced preparations to meet with refinery management this week to discuss product loading terms. Similarly, the Petroleum Products Retail Outlets Owners Association of Nigeria (PETROAN) has been working with the refinery to supply products from the plant.
Aliko Dangote, chairman of Dangote Group, Africa’s most diverse industrial conglomerate, thanked Nigerian President Bola Tinubu for his continuous support, describing the production launch as a monument to Tinubu’s visionary leadership.
Dangote thanked bankers, financiers, the Lagos State Government, led by Babajide Sanwo-Olu, and the host communities and traditional leaders for their assistance.
The Dangote Oil Refinery, which has a world-record capacity of 650,000 barrels per day, seeks to supply 100% of Nigeria’s demand for refined petroleum products such as petrol, gasoline, kerosene, and jet fuel.
Despite initial operational difficulties, the facility is now ready to supply gasoline to the country after receiving the sixth and final batch of one million barrels of crude oil required for initial operations.
The refinery’s infrastructure includes truck-loading gantries that can load up to 2,900 trucks per day, providing efficient distribution. The facility’s design adheres to international standards established by the World Bank, the US EPA, European emission rules, and DPR emission-effluent norms.