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Nigeria's Dangote Oil Refinery, the largest in Africa, is set to operate at full capacity within 30 days, according to Edwin Devakumar, the refinery's head. The facility, with a capacity of 650,000 barrels per day, began processing various crude products, such as diesel, naphtha, and jet fuel, in January of the previous year, and petrol since September. Despite challenges in securing sufficient local crude, leading to temporary importation, the refinery is now operating at 85% capacity. It has requested 550,000 barrels per day of crude from Nigerian producers for the first half of the year. Additionally, the refinery is pursuing new markets for its products and has already shipped jet fuel to Saudi Aramco.
The refinery's full operation is anticipated to significantly bolster Nigeria's economic recovery by reducing dependence on imported refined products, improving the balance of payments, and potentially lowering fuel prices domestically. However, challenges such as securing a steady crude supply and dealing with Nigeria's depreciating currency persist.
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