Production has officially begun at the Dangote Refinery and Petrochemical Company. The refinery received its fifth crude oil shipment, consisting of one million barrels of Bonny Light, from the Nigerian National Petroleum Corporation Limited last week. The facility, with a capacity of 650,000 barrels per day, started operations in May 2023.
Initially, the refinery will focus on the production of diesel and aviation fuel before expanding to petrol output. The Dangote Refinery is expected to play a crucial role in enhancing Nigeria’s oil and gas sector, reducing the need for the country to import refined crude for consumption.
This development is significant, considering the past challenges associated with fuel imports and subsidies, which strained foreign exchange reserves during periods of declining oil revenues and currency shortages in Nigeria.