The Nigerian businessman, Aliko Dangote has assured that the Dangote Petroleum Refinery has enough Premium Motor Spirit (PMS), popularly known as petrol, in storage to meet local demands in the country.
According to Punch, Dangote disclosed this after Zambia’s Minister of Energy, Makozo Chikote’s tour of the refinery over the weekend.
He revealed that the facility has over half a billion litres of refined petroleum products and more than N600 billion worth of fuel in its tanks.
“As we speak right now we have more than half a billion litres. The refinery is producing enough refined products, like gasoline, diesel, and kerosene, to meet 100 per cent of Nigeria’s requirements.
“Over 600 billion naira worth of products in its tanks,” Dangote added.
He stressed that the refinery is not just for Nigeria but for the entire African continent, contributing to the goals of the African Continental Free Trade Area.
“We must sustain the African Continental Free Trade Area (AfCFTA) deal. We are trying to see how we trade with other African countries,” Dangote said.
Zambia’s Minister of Energy, who led a delegation of experts to explore energy partnerships with Dangote, expressed admiration for the refinery’s capacity and its potential benefits for Africa.
Chikote said, “In Zambia, we created an environment for the private sector to participate in the growth and development of our country. Currently, 100 per cent of our petroleum is done by the private sector.
“We are targeting increased productivity in mining, agriculture, and other sectors. Your presentation is an immediate solution to our energy needs. We are trying to promote competition among our private players.
“We are looking at Dangote coming on board, which would lead to efficient, reliable, quality, and competitive products, and we want these done like yesterday.
“Coming to the Dangote Petroleum Refinery, we have learned so many advantages of bringing many players for competition, which has improved the lives of the citizens.
“We have seen here that we can learn from what Dangote has done, and this would lead Africa and Africans to stand on their feet and not depend on overseas support in terms of trade. I believe going forward that people have learned a few lessons. The one lesson I have learned from this visit is that Dangote looks at the bigger picture for Africa,” he added.
